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Capri Holdings Shares Plunge Amid $675M Loss, Recovery Plans

2/6/2025

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Summary

Story summary

Capri Holdings, which owns Michael Kors, Versace, and Jimmy Choo, experienced a 10% drop in shares to $21.61 following a $675 million impairment charge.
CEO John Idol plans to unveil a recovery strategy on February 19 amid ongoing challenges.
The company reported a third-quarter net loss of $547 million and an 11.6% revenue decline to $1.26 billion.
Capri is considering selling Versace and Jimmy Choo while aiming to revitalize its brands.
Projected year-end revenues are $4.1 billion, falling short of the $4.5 billion analyst expectations.

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Story summary

Capri Holdings, which owns Michael Kors, Versace, and Jimmy Choo, experienced a 10% drop in shares to $21.61 following a $675 million impairment charge.
CEO John Idol plans to unveil a recovery strategy on February 19 amid ongoing challenges.
The company reported a third-quarter net loss of $547 million and an 11.6% revenue decline to $1.26 billion.
Capri is considering selling Versace and Jimmy Choo while aiming to revitalize its brands.
Projected year-end revenues are $4.1 billion, falling short of the $4.5 billion analyst expectations.