Michael Kors owner lifts annual revenue, earnings forecast as luxury demand returns

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(Reuters) – Michael Kors parent Capri Holdings (NYSE:CPRI) Ltd raised its forecast for financial year 2022 revenue and earnings on Tuesday, as easing pandemic-related curbs encourage consumers to return to stores to splurge on luxury goods.

The company expects annual revenue of about $5.15 billion, compared to previous forecast of about $5.10 billion and adjusted earnings to be between $3.80 and $3.90 per share, from $3.70 to $3.80 earlier.