Capri Holdings (CPRI) saw its shares tumble Fri🐭day after reporting fiscal second-quarter results after yesterday's closing bell that fell short of Wall Street's expectations. 

The owner of fashion brands Versace, Jimmy Choo, and Michael Kors saw revenue decline 16% year-over-year to $1.08 billion, below the analyst consensus from Visible Alpha. Net income was $24 millio🌳n, or 20 cents per share, down from $90 million or 77 cents p♔er share a year ago, well short of expectations.

John Idol, Capri's 澳洲幸运5官方开奖结果体彩网:chief executive officer (CEO), attributed the decline to “softening deman෴d gᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚlobally for fashion luxury goods.” 

Michael Kors revenue declined 16% to $738 million, while Versace sales dropped 28% to $201 million. Jimmy Choo saw revenue ဣincrease 6% to $140 million. 

Capri’s Merger Deal Blocked

The disappointing results come after a federal judge blocked Coach owner Tapestry's (TPR) $8.5 billion 澳洲幸运5官方开奖结果体彩网:deal to acquire Capri last month.ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ Tapestry also owns the Kate Spade and Stuart Weitzman brands. 

The luxury brands announced the deal 澳洲幸运5官方开奖结果体彩网:last year but the 澳洲幸运5官方开奖结果体彩网:Federal Trade Commission sued to block the merger, saying the combined firm would have too 🍎much power and reduce competition in the market for accessible luxury handbags.

Shares of Capri fell about 9% Frid🌱ay and have lost more than half their value since the Tapestry deal was blocked.