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Michael Kors Owner Capri Raises Full-year Profit Forecast

People walk by a Michael Kors store in Lakewood, Colorado June 1, 2016. REUTERS/Rick Wilking/File Photo
People walk by a Michael Kors store in Lakewood, Colorado June 1, 2016. REUTERS/Rick Wilking/File Photo
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Michael Kors Owner Capri Raises Full-year Profit Forecast

People walk by a Michael Kors store in Lakewood, Colorado June 1, 2016. REUTERS/Rick Wilking/File Photo
People walk by a Michael Kors store in Lakewood, Colorado June 1, 2016. REUTERS/Rick Wilking/File Photo

Michael Kors owner Capri Holdings Ltd raised its full-year profit forecast on Wednesday, signaling robust demand for its luxury goods as higher-income consumers return to their old shopping routines.

Shares of the company, which owns Versace and Jimmy Choo, rose about 6% to $51.51 in premarket trading, Reuters said.

The effects of 40-year-high inflation has yet to show any impact on affluent shoppers, especially in the United States and Europe, allowing luxury goods makers to keep raising prices at a time when other retailers, including Target Corp and Walmart Inc, are discounting products.

The company forecast fiscal 2022 profit of about $6.85 per share, compared with its prior estimate of about $6.60 per share.

The company's total revenue rose 24.6% to $1.49 billion in the fourth quarter ended April 2, beating analysts' average estimate of $1.41 billion, according to IBES data from Refinitiv.

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Fashion

Hong Kong Investigates Louis Vuitton Data Leak that Affected 419,000

People pose for pictures next to "The Louis", a large ship-shaped structure of the Louis Vuitton brand, in Shanghai on July 15, 2025. (Photo by Hector RETAMAL / AFP)
People pose for pictures next to "The Louis", a large ship-shaped structure of the Louis Vuitton brand, in Shanghai on July 15, 2025. (Photo by Hector RETAMAL / AFP)
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Hong Kong Investigates Louis Vuitton Data Leak that Affected 419,000

People pose for pictures next to "The Louis", a large ship-shaped structure of the Louis Vuitton brand, in Shanghai on July 15, 2025. (Photo by Hector RETAMAL / AFP)
People pose for pictures next to "The Louis", a large ship-shaped structure of the Louis Vuitton brand, in Shanghai on July 15, 2025. (Photo by Hector RETAMAL / AFP)

Hong Kong's privacy watchdog said on Monday that it was investigating a data leak at Louis Vuitton affecting about 419,000 customers, just after a cyberattack on the luxury brand in South Korea in June.

Leaked data included names, passport details, addresses and email addresses as well as phone numbers, shopping history and product preferences, Hong Kong's Office of the Privacy Commissioner for Personal Data said in an emailed statement.

Louis Vuitton submitted the data breach incident to the office on July 17. Its French head office found suspicious activities on its computer system on June 13 and then discovered on July 2 that it affected Hong Kong customers, Reuters quoted the statement as saying.

The office said it had launched an investigation into Louis Vuitton Hong Kong, including whether the incident involved delayed notification. No relevant complaints or inquiries have been received so far, it said.

The incident comes after a systems breach at Louis Vuitton in Korea in June led to the leak of some customer data, including contact information, but it did not involve customers' financial information, the company said.

Louis Vuitton did not immediately respond to requests for comment.