The logo of Michael Kors is seen on an outlet store in Metzingen, Germany, June 16, 2017. REUTERS/Michaela Rehle/File Phototo buy Capri in August, as the luxury brands looked to consolidate top labels such as Tapestry's Kate Spade, Stuart Weitzman and Capri's Jimmy Choo and Versace under one roof to compete with larger rivals such as Paris-listed LVMH
The companies said on Monday they expect to respond "promptly" to the FTC's request and aim to close the deal as planned, in 2024. Capri's shares, which had jumped 55% on Aug. 10 after the deal was announced, were down 2.5% in extended trade.of weak profit and sales in fiscal 2024 as increased cost of living and still-high inflation has pressured American budgets, denting demand for luxury brands.Internet retailer Beyond Inc , formerly known as Overstock.com, on Monday said its chief excecutive, Jonathan Johnson, has stepped down amid activist investor pressure.
Realty Income on Monday raised the lower end of its full-year outlook for adjusted funds from operations as the real estate investment trust expects to benefit from higher rental revenue.