Michael Kors Parent Warns Middle East Conflict Is Taking a Toll on Luxury Sales
Capri Holdings (CPRI) stock dropped despite beating Q1 earnings expectations, as the luxury retailer lowered its FY27 revenue forecast.
Michael Kors' parent company made more money than expected this quarter, but warned that fighting in the Middle East is making fewer people buy fancy stuff. When a company lowers what they think they'll earn in the future, it's a sign they're worried—even if they did well right now.
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