Capri Holdings Limited CPRI is likely to register an increase in the top line when it reports first-quarter fiscal 2022 numbers on Jul 30, before the market opens. The Zacks Consensus Estimate for revenues is pegged at $1,117 million, suggesting a jump of 147.6% from the prior-year reported figure.The Zacks Consensus Estimate for first-quarter earnings currently stands at 79 cents, which suggests a sharp turnaround from a loss of $1.04 per share reported in the year-ago period. The consensus mark has increased by 3.9% in the past 30 days.In the last reported quarter, the company’s bottom line outperformed the Zacks Consensus Estimate by a significant margin.Factors to NoteReturn to active social lifestyle, events and occasions have been boosting demand for apparel and accessories. Management in a recent virtual investor day highlighted that Capri Holdings witnessed better-than-anticipated first-quarter sales trends. In fact, its three iconic fashion houses — Michael Kors, Versace and Jimmy Choo — are doing quite well.Capri Holdings has been reinforcing its position in the luxury fashion space. The company has been deploying resources to expand product offerings and upgrade distribution infrastructure. This along with fleet optimization and e-commerce enhancement bode well. Meanwhile, higher full price sell-throughs, strategic increase in prices and manufacturing efficiencies are likely to have benefited margins.Capri Holdings Limited Price, Consensus and EPS Surprise Capri Holdings Limited price-consensus-eps-surprise-chart | Capri Holdings Limited QuoteOn its last earnings call, Capri Holdings projected first-quarter total revenues of approximately $1.1 billion, suggesting continued growth in the Americas and Asia regions. However, regional restrictions including store closure might have impacted revenues in the EMEA region. The guidance indicates revenues of approximately $220 million from Versace, $110 million from Jimmy Choo and $770 million from Michael Kors.Management guided about 100 basis points contraction in gross margin for the quarter under review, primarily due to higher wholesale channel mix. Capri Holdings also projected an increase of $150 million in operating expenses. It has been experiencing higher transportation expenses.The company anticipates operating margin of approximately 12%, suggesting high single-digit range for Versace, low 20% range for Michael Kors and negative low to mid-teens range for Jimmy Choo. The company had forecast earnings of 75 cents a share for the quarter.What the Zacks Model UnveilsOur proven model predicts an earnings beat for Capri Holdings this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Capri Holdings has a Zacks Rank #3 and an Earnings ESP of +3.87%.Other Stocks With Favorable CombinationHere are some other companies you may want to consider as our model shows that these too have the right combination of elements to post an earnings beat:Under Armour UAA has an Earnings ESP of +47.69% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.Foot Locker FL has an Earnings ESP of +7.06% and a Zacks Rank #2.American Eagle Outfitters AEO has an Earnings ESP of +3.92% and a Zacks Rank #3. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>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 American Eagle Outfitters, Inc. (AEO): Free Stock Analysis Report Foot Locker, Inc. (FL): Free Stock Analysis Report Under Armour, Inc. (UAA): Free Stock Analysis Report Capri Holdings Limited (CPRI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research