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Michael Kors Owner Posts $551 Million Loss, Braces for 70% Revenue Hit

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Michael Kors’ parent company expects revenue to nosedive 70 percent in its fiscal 2021 first quarter, though reopened stores are showing signs of recovery. In a Nutshell: Capri Holdings, which also owns Versace and Jimmy Choo, projected a 70 percent year-on-year decline in fiscal 2021 revenues for the first quarter, when 55 percent of its global…

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