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The larger-than-expected loss and guidance cut suggest ongoing profitability issues, similar to past periods of negative earnings when investor sentiment fell sharply.
What happened, with direct paths to the underlying reporting
Capri Holdings posts a larger-than-expected quarterly loss of $4.90 per share. Revenue of $1.04 billion exceeded expectations but failed to buoy share prices. Full-year outlook lowered; fiscal 2026 revenue projected at $3.3-$3.4 billion. Capri's merger with Tapestry was blocked, raising further strategic concerns. Sale of Versace to Prada for almost $1.4 billion classified as discontinued.
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