Shares in Capri Holdings (CPRI), which last month 澳洲幸运5官方开奖结果🐟体彩网:struck a deal to sell its Versace luxury brand, are dropping in premarket trading Wednesday after the fashion conglomerate posted a larger-than-expected quarterly loss amid the trade war and lowered its full-year outlook.

The Michael Kors and Jimmy Choo parent reported a fiscal fourth-quarter adjusted𒉰 loss of $4.90 per share, far wider than the adjusted loss of $0.16 per share expected by♎ analysts surveyed by Visible Alpha. Revenue of $1.04 billion topped estimates of $986.6 million.

"Fiscal 2025 was a challenging year for Capri Holdings, but we are optimistic about our path forward as we enter fiscal 2026,” Capri CEO John D. Idol said. “While there is uncertainty around the impact of tariffs on the global economic environment, we remain focused on executing against our new strategic initiatives that are designed to return Capri Holdings to future growth.”

Looking ahead, Capri projects total revenue of $3.3 billion to $3.4 billion for fiscal 2026 and earnings per share of $1.20 to $1.40. In the third quarter, Capri had forecast fiscal 2026 revenue of approximately $4.1 billion.

The company, whose merger with Tapestry was blocked by a federal judge late last year, agreed last month𒀰 to sell Italian luxury brand Versace to Prada for almost $1.4 billion. Versace will ♈be classified as a discontinued business starting in fiscal 2026, Capri said Wednesday. 

Capri shares, which have lost more than 15% of their value this year entering Wednesday, are down around 1% in premarket trading.