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Stock impact report

Michael Kors-owner Capri cuts holiday forecasts as China recovery falters [Reuters]

Canada Goose Holdings Inc. Subordinate Voting Shares (GOOS) 
Last canada goose holdings inc. subordinate voting shares earnings: 2/7 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.canadagoose.com
Company Research Source: Reuters
Americans cutting back on luxury spending - data Nov 9 (Reuters) - Michael Kors-owner Capri Holdings Ltd (CPRI.N) on Wednesday lowered its sales and profit forecasts for the holiday period, blaming a slow demand recovery in China due to persistent COVID-19 curbs and uncertainty about the global economy. Luxury goods companies have managed to pass on higher costs to affluent shoppers, but China remains a sore spot as Beijing's "dynamic zero-COVID" policy hampers the return of consumers to high-fashion stores. COVID disruptions in China have also weighed heavily on Kering's (PRTP.PA) Gucci, Canada Goose Holdings (GOOS.TO) and L'Oreal (OREP.PA) Michael Kors, Capri's biggest revenue generator, posted a 4.5% fall in Asia sales in the second quarter. Revenue from Europe slipped 0.5%. "There is more caution around luxury in China due to lockdowns and in Europe where consumers have faced pressure from soaring energy costs," said Jessica Ramirez, an analyst at research firm Jane Hal Show less Read more
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