Capri Holdings Ltd.
(NYSE:CPRI) stock fell Wednesday after the luxury fashion company lowered its fiscal 2027 revenue forecast, citing inventory shortages at Michael Kors, weaker demand in Europe, the Middle East and Africa (EMEA), and foreign exchange headwinds, even as it reported first-quarter results that topped Wall Street earnings expectations.
The company's portfolio includes the Michael Kors and Jimmy Choo brands.
Earnings Snapshot Adjusted earnings came to 67 cents per share, topping the analyst consensus estimate of 40 cents.
Revenue declined 3.5% year over year to $769 million but exceeded the consensus estimate of $752.7 million.
