Versace, Michael Kors parent company shares soar 12 percent on raised sales outlook

Capri Holdings CEO John Idol said that the company expects to deliver both double-digit revenue and adjusted earnings-per-share growth for the full year, and that the Michael Kors brand should return to growth next year.
Capri Holdings Ltd, formerly Michael Kors, beat quarterly profit estimates on Wednesday and raised its full-year revenue forecast on expectations of strong sales at its recently acquired Versace brand, sending its shares up 11 percent.