Prada has agreed to buy Versace in a 1.25 billion euro (£1.1 billion) deal that will see two of Italy’s biggest luxury fashion brands come together. The Milan-based Italian fashion house said it was acquiring 100% of the brand from Michael Kors and Jimmy Choo owner Capri Holdings. Prada said Versace would complement its portfolio…
John D. Idol is a man who loves a gold logo — but it appears the fashion exec has lost his Midas touch, according to multiple sources. The multi-millionaire CEO of Capri Holdings made his fortune at America’s biggest brands, from Donna Karan to Michael Kors, before buying Italian design house Versace for $2.1 billion…
Check out the companies making headlines in extended trading: Rivian — The electric vehicle maker added nearly 2% despite missing on both top and bottom lines in the third quarter. Rivian posted an adjusted loss of 99 cents per share on $874 million in revenue. Analysts polled by LSEG had forecast a loss of 92…
Shares of Capri Holdings (CPRI), parent company of Michael Kors and Jimmy Choo, are sinking after a US judge blocked its pending $8.5 billion merger with Coach owner Tapestry (TPR). Yahoo Finance Senior Reporter Alexandra Canal joins Morning Brief to discuss the ruling in the Federal Trade Commission’s (FTC) antitrust case and competition among luxury…
The S&P 500 (^GSPC) is poised for its first weekly drop in seven weeks as investors brace for “Magnificent Seven” earnings and October’s jobs report ahead. Shares of Capri Holdings (CPRI), the parent company of Michael Kors and Jimmy Choo, are plunging after a US judge blocked its pending $8.5 billion merger with Coach owner…
Here are five key things investors need to know to start the trading day: 1. Gains and losses The S&P 500 staged a comeback Thursday, posting its first positive day this week and snapping a three-day losing streak. The index added 0.21%, while the tech-heavy Nasdaq Composite rose 0.76%. The Dow Jones Industrial Average didn’t fare…
Electric carmaker Tesla had its best day on the market in over a decade on Thursday, on the back of the company’s surprisingly solid results. Shares ended Thursday’s session up nearly 23%, giving Tesla a market valuation of $836bn (£644bn). CEO Elon Musk’s net worth jumped by $33.5bn, widening his lead as the world’s richest…