Consumer
Versace Parent Capri Says Turnaround to Take a Year
A Versace store in Paris.
Photographer: Cyril Marcilhacy/BloombergThis article is for subscribers only.
Capri Holdings Ltd. shares dropped after the luxury apparel and accessories company gave guidance below Wall Street expectations, saying a turnaround will take time.
The parent to Michael Kors, Versace and Jimmy Choo brands expects fiscal 2025 revenue of $4.4 billion, below the $4.5 billion average analyst estimate. Adjusted earnings per share in the quarter ended Dec. 28 also missed expectations.