Capri soars after upbeat Q2 revenue forecast

** Michael Kors owner Capri Holdings <CPRI.N> shares up as much as 18.1% to $21.50, highest since March 25

** CPRI expects Q2 revenue of about $815 million to $835 million, compared to analysts' estimates of $819.1 million, according to data compiled by LSEG

** Posts smaller-than-expected drop in Q1 revenue

** CPRI net revenue for the quarter fell 6% to $797 million, below estimates of 25.7% decline

** Posts Q1 adjusted earnings per share of 50 cents, beating estimates of 13 cents

** Positive stock reaction is likely result of steady improvement in Michael Kors, and for reiterated EPS outlook, Jefferies analyst says

** As of last close, stock down 13.58% YTD