Capri Holdings Stock Falls 14% After Reporting Net Loss For Q3

(RTTNews) - Capri Holdings Limited (CPRI) is down by 14.69 percent during Wednesday trading, dropping $3.53 to $20.50. The decline follows a net loss of $546 million for the third quarter, compared with a net income of $105 million in the same period last year.

CPRI is currently trading at $20.65, down $3.38 from the previous close of $24.03. The stock has fluctuated today, reaching a high of $22.60 and a low of $20.36. Trading volume has surged to 6.86 million shares, significantly higher than the average volume of 3.9 million. Despite the sharp decline in net income and revenue, the stock remains within its 52-week range of $18.70 to $47.80.

The company also reported a decrease in diluted earnings per share to $4.61, compared to $0.88 previously. Total revenue for the quarter decreased to $1.26 billion from $1.43 billion.

Despite the sharp decline in net income and revenue, the stock remains within its 52-week range of $18.70 to $47.80.