Capri Cuts Revenue Forecast as Us Demand Wavers

Michael Kors parent Capri Holdings Ltd on Wednesday cut its annual sales forecast as demand for its handbags and shoes weakens in the United States, sending its shares down nearly 9 percent in early trading.

Demand for high-end goods has softened in the US as shoppers pause luxury indulgence in the face of rising cost of living, also affecting sales of other luxury brands such as LVMH and Gucci owner Kering.

Revenue from the company’s biggest…