February 5, 2020 / 11:40 AM / 12 days ago

Michael Kors owner Capri sees $100 million revenue hit from coronavirus

Feb 5 (Reuters) - Michael Kors owner Capri Holdings Ltd on Wednesday warned of a $100 million hit to its full-year revenue from the coronavirus outbreak in China, as it closed 150 stores in one of the most important markets for luxury fashion labels.

The company cut its revenue forecast to $5.65 billion from $5.8 billion. It also lowered it full-year profit forecast to $4.45 to $4.50 per share from a prior outlook of $4.95 per share. (Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)

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