(Reuters) - Capri Holdings Ltd, formerly Michael Kors, reported better-than-expected holiday-quarter profit on Wednesday, helped by higher sales of its Jimmy Choo footwear.
Shares of the company, which also owns the Versace brand, rose 5.6 percent to $45.99 before the bell.
Capri's results also got a boost as it managed to pull back inventory from off-price retailers, helping operating margins in Michael Kors' wholesale business.
Excluding certain items, the company earned $1.76 per share, beating analysts' average estimate of $1.58 per share, according to IBES data from Refinitiv.
Total revenue remained largely flat at $1.44 billion (1.11 billion pounds), missing the average analyst estimate of $1.46 billion, hurt by weakness at Kors' retail stores.
Net income attributable to the company fell to $199.6 million, or $1.33 per share, in the third quarter ended Dec. 29, from $219.4 million, or $1.42 per share, a year earlier.
(Reporting by Uday Sampath in Bengaluru; Editing by Saumyadeb Chakrabarty)
