Reported 4 months ago
Capri Holdings, the parent company of luxury brands such as Versace and Michael Kors, reported fourth-quarter results below Wall Street expectations, with adjusted earnings at $0.42 per share missing the $0.72 estimate, and revenue at $1.22 billion falling short of the $1.3 billion estimated. CEO John Idol attributed the poor performance to weakening global demand for luxury goods, especially in Asia, while noting some improvement in the Americas and Europe. Analysts remain cautious due to uncertainties like the failed acquisition by Tapestry.
Source: YAHOO