Capri Holdings (CPRI), the parent company of brands such as Vesace and Michael Kors, posted fourth quarter results that missed Wall Street expectations. Adjusted earnings of $0.42 per share was below the estimate of $0.72. Revenue was also a miss, $1.22 billion versus the estimated $1.3 billion. Capri Holdings Chairman and CEO John Idol said in the release, “We were disappointed with our results as performance in the fourth quarter continued to be impacted by softening demand globally for fashion luxury goods.” Yahoo Finance’s Julie Hyman and Josh Lipton explain the headwinds the luxury retail giant is facing. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Stephanie Mikulich.
Yahoo! Finance: CPRI News
