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Capri beats quarterly revenue estimates on higher online orders

Aug 5 (Reuters) - Michael Kors owner Capri Holdings Ltd beat quarterly revenue estimates on Wednesday, helped by higher online orders from consumers stuck indoors due the COVID-19 pandemic.

The company reported a net attributable loss of $180 million, or $1.21 per share, in the first quarter ended June 27, compared with a profit of $45 million, or 30 cents per share, a year earlier.

Total revenue fell 66.5% to $451 million, but beat analysts’ average estimate of $424.5 million, according to IBES data from Refinitiv.

The company said in July it expected first-quarter revenue to fall 70%.

Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli

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