Capri posts bigger-than-expected drop in quarterly revenue

Reuters
2024.11.07 21:09
portai
I'm PortAI, I can summarize articles.

Nov 7 (Reuters) - Versace-parent Capri Holdings posted a bigger-than-expected drop in quarterly revenue on Thursday, hurt by execution missteps across brands and a global slowdown in luxury goods demand.The company’s net revenue fell 16.4% to $1.08 billion from a year earlier. Analysts were expecting an 8.7% decline to $1.18 billion, according to data compiled by LSEG.

Nov 7 (Reuters) - Versace-parent Capri Holdings posted a bigger-than-expected drop in quarterly revenue on Thursday, hurt by execution missteps across brands and a global slowdown in luxury goods demand.

The company’s net revenue fell 16.4% to $1.08 billion from a year earlier. Analysts were expecting an 8.7% decline to $1.18 billion, according to data compiled by LSEG.

Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.