Michael Kors owner Capri misses quarterly sales estimates

Michael Kors owner Capri Holdings Ltd CPRI missed holiday-quarter revenue expectations on Wednesday, hurt by a surge in COVID-19 infections in China that dulled demand for luxury products late last year.

The company's quarterly revenue fell 6% to $1.51 billion in the third quarter ended Dec. 31, compared with analysts' estimates of $1.53 billion, according to Refinitiv IBES data.