Compares with estimates; provides particulars on Hong Kong protests
Compares with estimates; provides particulars on Hong Kong protests
Nov 6 (Reuters) – Capri Holdings Ltd CPRI.N missed Wall Avenue estimates for quarterly revenue on Wednesday, as protests in Hong Kong and unfavourable Chinese language client response to an ‘incorrectly labeled’ T-shirt harm gross sales of its Versace model.
Milan-based Versace had come below fireplace in China as the luxurious label bought a T-shirt that recognized the Chinese language-controlled territories of Hong Kong and Macau as nations.
On account of this, Versace misplaced its first Asia model ambassador, Chinese language actress Yang Mi, who terminated her contract with the model.
Luxurious labels depend on Hong Kong as a magnet for vacationers and customers throughout Asia, and several other months of pro-democracy protests have compelled some retailers to shut their doorways.
The corporate stated comparable gross sales for Versace was flat in contrast with a 12 months earlier.
Capri stated it expects…