Capri forecasts annual profit above market estimates
Capri Holdings expects annual profit above estimates as it focuses on reviving Michael Kors. The group reported a quarterly earnings beat despite lower revenue.
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CAPRI HOLDINGS LTD forecast fiscal 2027 profit of $2.15 per share, exceeding LSEG analyst estimates of $1.83. The outlook relies on a turnaround for Michael Kors after revenue for the brand fell 5.5% to $656 million. Investors are monitoring if Capri can attract younger shoppers to offset luxury demand weakness in the Middle East.
