Michael Kors-owner Capri cuts full-year sales forecast

November 09, 2022 12:07 PM GMT | By Reuters
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(Corrects first paragraph to say company had lowered its sales forecast, not profit expectations)

(Reuters) -Michael Kors-owner Capri Holdings Ltd lowered its annual sales forecast on Wednesday, blaming a hit from a stronger dollar and a slow demand recovery in the key Chinese market due to persistent COVID-19 curbs.

The company forecast fiscal 2023 revenue of $5.7 billion, compared with its prior estimate of about $5.85 billion.

(Reporting by Uday Sampath in Bengaluru; Editing by Vinay Dwivedi)


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