Capri Holdings sees ‘disappointing’ drop in Q1 revenue, slides into red

“We were disappointed with our first quarter results as performance continued to be impacted by softening demand globally for fashion luxury goods,” John Idol, Capri Holding’s chairman and chief executive officer, began in a statement to the press as the company slid into the red. Indeed, the luxury group continued to tackle dampening demand during the quarter ended June 29, 2024, after seeing impact from the “challenging global retail environment” that has already been ravaging its financials over the past year.