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Capri posts bigger-than-expected drop in quarterly revenue
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Capri posts bigger-than-expected drop in quarterly revenue
Nov 7, 2024 1:33 PM

Nov 7 (Reuters) - Versace-parent Capri Holdings ( CPRI ) posted a

bigger-than-expected drop in quarterly revenue on Thursday, hurt

by execution missteps across brands and a global slowdown in

luxury goods demand.

The company's net revenue fell 16.4% to $1.08 billion from a

year earlier. Analysts were expecting an 8.7% decline to $1.18

billion, according to data compiled by LSEG.

(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Anil

D'Silva)

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