Page 1

Capri Holdings Limited Announces First Quarter Fiscal 2022 Results Revenue and Earnings Significantly Exceeded Expectations Raised Full Year Adjusted Earnings Per Share Outlook VERSACE ● JIMMY CHOO CAPRI 100 ) HOLDINGS LIMITED MICHAEL KORS London July 30 , 2021 Capri Holdings Limited ( NYSE : CPRI ) , a global fashion luxury group , today announced its financial results for the first quarter of fiscal 2022 ended June 26 , 2021 . First Quarter Fiscal 2022 Highlights Revenue increased 178 % , with better than anticipated results across all three luxury houses Adjusted gross margin expanded 90 basis points versus prior year Adjusted operating margin of 20.8 % Adjusted earnings per share of $ 1.42 Raised full year adjusted earnings per share outlook to $ 4.50 John D. Idol , the Company's Chairman and Chief Executive Officer , said , " We were pleased by our first quarter performance which reflected the strength of Capri Holdings ' three global fashion luxury houses , Versace , Jimmy Choo and Michael Kors . All of our luxury houses significantly exceeded our revenue and earnings expectations for the quarter , as they continued to deepen consumer desire and engagement . As a result of this encouraging start to the year , we are raising our Fiscal 2022 revenue and earnings outlook . " Mr. Idol concluded , " Looking forward , we are confident in the growth opportunities for Versace , Jimmy Choo and Michael Kors as the world continues to recover from the impact of the global pandemic . As we execute on our strategic initiatives , Capri Holdings is positioned to deliver multiple years of revenue and earnings growth . "