Capri Holdings Limited CPRI reported better-than-expected second-quarter fiscal 2021 results. Moreover, the company swung back to profits following a loss in the last reported quarter. However, the top and the bottom line declined from the year-ago quarter’s levels. We note that revenues fell across the company’s three brands.Nonetheless, shares of Capri Holdings were up nearly 12% during the pre-market trading session on Nov 5. This Zacks Rank #3 (Hold) stock has surged 54.7% in the past three months compared with the industry’s rise of 34.8%.Let’s Delve DeepThis designer, marketer, distributor and retailer of branded apparel and accessories reported adjusted quarterly earnings of 90 cents per share that surpassed the Zacks Consensus Estimate of 7 cents. However, the bottom line declined nearly 22.4% from $1.16 reported in the year-ago quarter.Revenues came in at $ 1,110 million, which beat the Zacks Consensus Estimate of $947.4 million. However, the top line declined 23% from the prior-year quarter’s levels. On a constant-currency basis, total revenues were down 24.6%. Nonetheless, the rate of revenue decline decelerated on a sequential basis. The top line includes revenue contribution of $793 million from Michael Kors, down 27.2% year on year. Revenues from Jimmy Choo amounted to $122 million, down 2.4% year over year. Revenues from Versace were $195 million, down 14.5% from the prior-year quarter’s levels.Nevertheless, management indicated that e-commerce operations were strong in the reported quarter. Further, it witnessed positive sales in Mainland China across all brand houses. Adjusted gross profit fell 20.2% year over year to $701 million. Nevertheless, adjusted gross margin expanded 220 basis points (bps) to 63.2%. The company reported adjusted operating income of $182 million, which reflected a decline of 9.9%, while adjusted operating margin expanded 240 bps to 16.4%. Markedly, the company remains pleased with its second-quarter results as the top- and bottom-line metrics surpassed expectations. Additionally, the company is on track with innovations to attract new customers across brands. However, management refrained from providing any guidance for fiscal 2021 owing to lack of visibility regarding economic fundamentals and tourism flows amid the pandemic situation.Capri Holdings Limited Price, Consensus and EPS Surprise Capri Holdings Limited price-consensus-eps-surprise-chart | Capri Holdings Limited QuoteOther DetailsCapri Holdings ended second-quarter fiscal 2021 with cash and cash equivalents of $238 million, net receivables of $344 million, total debt of $1,781 million and shareholders’ equity of $2,199 million. Total inventory at the end of the quarter under review was $930 million, down 13% year over year.As of Sep 26, 2020, the company had 1,261 retail stores, which included 828 Michael Kors stores, 227 Jimmy Choo stores and 206 Versace stores.Check These 3 Trending PicksTapestry, Inc. TPR, a Zacks Rank #1 (Strong Buy) stock, has a trailing four-quarter earnings surprise of 38.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.Dollar General Corporation DG has a long-term earnings growth rate of 11.1%. Currently, it carries a Zacks Rank #2 (Buy).Best Buy Co., Inc. BBY, with a Zacks Rank #2, has a long-term earnings growth rate of 7.7%.These Stocks Are Poised to Soar Past the PandemicThe COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.See the 5 high-tech stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Best Buy Co., Inc. (BBY): Free Stock Analysis Report Dollar General Corporation (DG): Free Stock Analysis Report Tapestry, Inc. (TPR): Free Stock Analysis Report Capri Holdings Limited (CPRI): Free Stock Analysis Report To read this article on Zacks.com click here.