Michael Kors parent Capri’s stock falls after company swings to loss as revenue slides 10.5%

Capri Holdings Ltd.’s stock erased early premarket gains to trade down 2% Wednesday, after the parent of the Michael Kors, Versace and Jimmy Choo brands swung to a loss in its fiscal fourth-quarter as revenue slid more than 10%.

Revenue fell at all three brands, and the company CPRI highlighted a challenging environment in its home market, contrasting with strength in China. Other retailers have highlighted the recovering Chinese market, which was still mostly shut down a year ago due to COVID lockdowns.

“While…