The fashion and apparel space is brimming with optimism, courtesy of rapid inoculation drive and relaxation in pandemic-induced restrictions. The gradual return to active social lifestyle, events and occasions have spurred demand, and Capri Holdings Limited CPRI looks well-poised to tap the same. The company has been constantly deploying resources to expand product offerings, upgrade distribution infrastructure, create seamless omni-channel capabilities and deepen engagement with customers.Building Strong PresenceCapri Holdings has been reinforcing its position in the luxury fashion space, and looks to maximize the potentials of Versace, Jimmy Choo and Michael Kors brands through expanded products and categories. While exploring growth opportunities in apparel is crucial to the company, it is emphasizing on boosting its accessories business including leather goods and handbags.The company remains confident of positioning Versace as a leading luxury leather house, and expanding accessories revenues to $1 billion over time and more than double footwear revenues. Additionally, it plans to increase the store count to 300. Management aims to enhance the contribution from accessories to 30% of Jimmy Choo’s revenues. The company aims to triple Jimmy Choo’s e-commerce revenues and increase global retail footprint to 300 stores.At Michael Kors, the company continues to increase signature penetration across all product categories with the goal to increase the same to 50% of the business. Men’s business remains one of the fastest-growing categories at Michael Kors. The company plans to grow revenues from MKGO to $500 million and double Michael Kors’ e-commerce revenues. Image Source: Zacks Investment ResearchEfforts Yielding ResultsIn spite of a challenging backdrop, Capri Holdings reported stronger-than-anticipated first-quarter fiscal 2022 results, wherein both the top and the bottom lines improved meaningfully on a year-over-year basis. The company was encouraged by the performance of all three luxury brands. Impressively, management raised fiscal year revenues and earnings views.Capri Holdings now envisions revenues to be approximately $5.3 billion for fiscal 2022 compared with the previous forecast of $5.15 billion. The company raised earnings guidance to $4.50 per share from its prior view of $3.80-$3.90. Fiscal 2022 top-line projection assumes revenues of approximately $1.025 billion from Versace, $550 million from Jimmy Choo, and $3.725 billion from Michael Kors.Stock Exhibiting Bullish RunThanks to its operational initiatives — strengthening of omni-channel solutions, expanding customer reach and focus on brand innovation — Capri Holdings has exhibited an outstanding run on the bourses so far this year. In the said period, shares of this Zacks Rank #1 (Strong Buy) company have rallied about 28.5% compared with the industry’s growth of 5.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.Additionally, the Zacks Consensus Estimate for the current and next financial year have increased about 18.6% and 6.2% to $4.53 and $5.34, respectively, over the past 60 days. It has a long-term earnings growth rate of 27.2% and a VGM Score of A, which highlights its inherent strength.3 More Stocks Worth a LookAbercrombie & Fitch ANF has a long-term earnings growth rate of 18%. It presently sports a Zacks Rank #1.The Children's Place PLCE has a long-term earnings growth rate of 8%. The stock currently flaunts a Zacks Rank #1.Foot Locker FL has a trailing four-quarter earnings surprise of 73.1%, on average. The stock presently carries a Zacks Rank #1. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs 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 Abercrombie & Fitch Company (ANF): Free Stock Analysis Report Foot Locker, Inc. (FL): Free Stock Analysis Report The Childrens Place, Inc. (PLCE): Free Stock Analysis Report Capri Holdings Limited (CPRI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research