Capri Holdings Limited CPRI, one of the widely recognized names in the apparel and footwear industry, has exhibited a decent run on the bourses in the past one year. Thanks to its operational initiatives — strengthening of omni-channel solutions, expanding customer reach and focus on brand innovation — the stock has outpaced the Zacks Retail - Apparel And Shoes industry. In the said period, shares of this Zacks Rank #1 (Strong Buy) company have risen about 59.9% against the industry’s decline of 7.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.Additionally, an uptrend in the Zacks Consensus Estimate echoes the same sentiment. The consensus estimates for the current and next financial year have increased about 17.9% and 14% to $5.34 and $6.09, respectively, over the past 60 days. The company’s long-term earnings growth rate of 32.2% highlights its inherent strength.Key Growth DriversCapri Holdings has constantly been deploying resources to expand product offerings, upgrade distribution infrastructure, create seamless omni-channel capabilities and deepen engagement with customers. The company 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.Image Source: Zacks Investment ResearchThe company remains confident to position Versace as a leading luxury leather house, and expand accessories revenues to $1 billion over time as well as more than double footwear revenues. It plans to increase the store count to 300 and grow e-commerce sales to $500 million. It also aims to increase the contribution from accessories to 30% of Jimmy Choo’s revenues, triple 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, and management intends to generate revenues of $500 million over the time. The company plans to grow revenues from MKGO to $500 million and double Michael Kors’ e-commerce sales.Wrapping UpCertainly, Capri Holdings has been strengthening its position in the luxury fashion space. The company has been investing significantly in digital analytics and upgrading the e-commerce platform. Management envisions revenues to be approximately $5.4 billion and earnings to be $5.30 per share for fiscal 2022. Top-line projection assumes revenues of approximately $1.06 billion from Versace, $575 million from Jimmy Choo, and $3.765 billion from Michael Kors.3 More Stocks Looking Red HotHere are three more favorably ranked stocks —The Children's Place PLCE, Tapestry TPR and Boot Barn Holdings BOOT.The Children's Place, a pure-play children’s specialty apparel retailer, carries a Zacks Rank #1. The company’s bottom line has outperformed the Zacks Consensus Estimate in the last reported quarter by a margin of 19.6%.The Zacks Consensus Estimate for The Children's Place’s current financial year sales and EPS suggests growth of 27.4% and 464.9%, respectively, from the year-ago period.Tapestry, which provides luxury accessories and branded lifestyle products, flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 29%, on average.The Zacks Consensus Estimate for Tapestry’s current financial year sales and EPS suggests growth of 14.8% and 17.9%, respectively, from the year-ago period. TPR has an expected EPS growth rate of 12.3% for three-five years.Boot Barn Holdings, the lifestyle retailer of western and work-related footwear, apparel and accessories, carries a Zacks Rank #2 (Buy). BOOT has a trailing four-quarter earnings surprise of 35.3%, on average.The Zacks Consensus Estimate for Boot Barn Holdings’ current financial year sales and earnings per share (EPS) suggests growth of 54.6% and 188%, respectively, from the year-ago period. Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through November, the Zacks Top 10 Stocks gained an impressive +962.5% versus the S&P 500’s +329.4%. Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.Be First To New Top 10 Stocks >>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 Boot Barn Holdings, Inc. (BOOT): Free Stock Analysis Report The Children's Place, Inc. (PLCE): 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. Zacks Investment Research