(Updates with latest stock move in the headline and the first paragraph.)
Capri (CPRI) shares were up more than 7% in recent Wednesday trading, a day after the company said it closed its sale of Versace to Prada for about $1.38 billion in cash.
"We remain focused on executing our strategic initiatives across Michael Kors and Jimmy Choo to maximize the potential of our iconic brands," Chief Executive John Idol said. "We believe we are on track to stabilize our business this year while establishing a solid foundation for a return to growth in fiscal 2027."
Price: 27.02, Change: +1.86, Percent Change: +7.37
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