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Benzinga
Benzinga
Business
Lekha Gupta

Michael Kors Parent Warns Middle East Conflict Is Taking a Toll on Luxury Sales

Capri Holdings

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.

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