G-III Sees 16.6% Sales Growth in FY2023: Plans Donna Karan Expansion to $500 million, Signs Nautica License

“We have been overly promotional… the level of markdowns has not only impacted our brand but also disrupted the overall market and the profitability of our partners.”

During the reporting period, Capri Holdings’ total sales revenue was $1.08 billion, reflecting a 16.4% decline compared to the previous year at both reported and constant currency rates.

“The strong performance across each geographic region this quarter highlights the resilience of our diversified growth drivers and the growing strength of our high-end consumer base, giving us the confidence to raise our fiscal year outlook ahead of the critical holiday season.”