Tag: $Capri Holdings Ltd.

Total revenue fell 13.2% year-over-year to $1.07 billion for the fiscal quarter that ended on June 29. On a constant currency basis, total revenue decreased by 12.1% during the quarter. Total company retail sales declined in the low-double-digits, with trends being impacted by softening demand globally for fashion luxury goods.

The Federal Trade Commission is seeking to block luxury retailer Tapestry from purchasing Capri Holdings for $8.5 billion, arguing that the acquisition would curb competition in the market for less expensive luxury handbags.

Michael Kors owner Capri CPRI –1.70% Holdings’ stock surged 58% ahead of the open Thursday as rival Tapestry , parent of the Coach brand, announced a deal to buy the global luxury fashion group.

Michael Kors parent Capri Holdings Ltd (CPRI.N) on Wednesday cut its annual sales forecast as demand for its handbags and shoes weakens in the United States, sending its shares down nearly 9% in early trading.