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Capri’s Coronavirus warning

Luxury group Capri Holdings has reported revenues of just under $1.6 billion for the third quarter of its current business year, the three months ending December 28.

The group, whose brands include Versace, Jimmy Choo and Michael Kors, said this figure represented overall growth of 9.2% compared to the same quarter a year earlier, in spite of a fall of 5.1% at Michael Kors.

Chief executive, John Idol, warned that the Coronavirus outbreak in China is likely to have an adverse effect on the group’s full-year results. He said: “The situation in China and the measures being taken to protect the population are having a material impact on our business. We now anticipate annual revenue of approximately $5.6 billion. This estimate could change if the severity of the situation in China worsens.”

Image: Jimmy Choo.




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