Why Capri Holdings Stock Is Surging Today

Shares of Capri Holdings (NYSE: CPRI) were trading higher on Wednesday, after the company reported a narrower-than-expected quarterly loss and said that demand in China and online has been strong. Shares of the company, which owns the Michael Kors, Jimmy Choo, and Versace luxury brands, were up about 12.3% from Tuesday's close as of 2:30 p.m. EDT on Wednesday. Capri Holdings reported earnings for the quarter that ended on June 27, the first quarter of its 2021 fiscal year, and the results were better than Wall Street had expected.