Capri Beats Q3 Forecasts on Stronger Pricing, Versace Sale Bolsters Balance Sheet
Capri Holdings reported fiscal third-quarter earnings that surpassed expectations, driven by improved full-price sales and reduced promotions at Michael Kors and Jimmy Choo. The luxury group also completed the sale of Versace, using the $1.4 billion proceeds to slash debt, as it refocuses on its core brands.