10 Firms Defy Wednesday’s Broader Market Optimism

4. Capri Holdings Inc. (NYSE:CPRI)

Luxury brands owner Capri Holdings dropped its share prices by 10.07 percent to close at $21.61 apiece as investor sentiment was weighed down by disappointing third-quarter earnings performance for fiscal year 2025.

In a statement posted on its website, Capri Holdings said it swung to a net loss of $547 million from a net income of $105 million in the same period a year earlier, driven by a non-cash impairment charge of $602 million. Total revenues for the same comparable period dropped by 11.6 percent, pulled down by lower retail and wholesale sales.

For the full fiscal year 2025, Capri Holdings said it expects revenues to settle at $4.4 billion, with a significant chunk expected to come from sales in Michael Kors at $3 billion, followed by Versace at $810 million, and Jimmy Choo at $600 million.

Meanwhile, revenue outlook for the fiscal year 2026 was expected to settle at $4.1 billion.