BUZZ-Capri falls on bleak annual revenue forecast

Versace parent Capri Holdings' CPRI.N shares down 5% at $22.80 premarket

Company forecasts fiscal 2026 net revenue of $4.1 billion, compared with analysts' estimates of $4.52 billion, according to data compiled by LSEG

Sees fiscal 2025 revenue of $4.4 billion, below analysts' expectations of $4.51 billion

Co's Q3 adjusted profit of 45 cents per share missed analysts' estimates of 66 cents per share

"Overall our business remained challenged during the quarter and we were disappointed with our results. We are reevaluating our strategic initiatives to improve current sales trends" - CEO John D. Idol

Idol, however, expects company performance to improve throughout fiscal year 2026, positioning for a return to growth in fiscal 2027 and beyond

CPRI stock fell 58% in 2024