Capri Holdings (CPRI) Q4 Earnings Lag Estimates, Sales Dip Y/Y

Total revenues of $1,223 million slightly fell short of the Zacks Consensus Estimate of $1,295 million and decreased 8.4% year over year. On a constant-currency basis, total revenues declined 7.9%. The retail sales experienced a mid-single-digit decline owing to soft demand for luxury fashion items. In the wholesale sector, revenues fall by a high-teen percentage primarily due to muted demand in the Americas and EMEA regions. Adjusted gross profit decreased approximately 11.1% year over year to $767 million ...