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Why Capri Holding Stock Tumbled This Week

Why Capri Holding Stock Tumbled This Week

Shares of Capri Holdings (NYSE: CPRI) were taking a dive after the parent of Michael Kors, Jimmy Choo, and Versace posted disappointing third-quarter earnings on Wednesday. According to data from S&P Global Market Intelligence, the stock was down 27% for the week as of Thursday's close. Capri said revenue in the quarter fell 6%, or 0.5% in constant currency, to $5.56 billion, which was worse than estimates of $5.72 billion.