Capri Holdings (CPRI) saw its shares tumble Friday after reporting fiscal second-quarter results after yesterday's cౠlosing bell that fell short of Wall Street's expectations. 

The owner of fashion brands Versace, Jimmy Choo, and Michael Kors saw revenue decline 16% year-over-year to $1.08 billion, below the analyst consensus from Visible Alpha. Net income was $24 million, or 20 cents per share, down from $90 million or 77 cents per share a year ago, well short of expectations🅘.

John Idol, Capri's 澳洲幸运5开奖号码历史查询:chief executive officer (CEO), attributed the decline ♈to “softening demand globally for fashion luxury goods.” 

Michael Kors revenue declined 16% 𝔍to $738 million, while Versace sales dropped 28% to $201 million. Jimmy Choo saw revenue increase 6% to $140 million. 

Capri’s Merger Deal Blocked

The disappointing results come after a federal judge blocked Coach owner Tapestry's (TPR) $8.5 billion 澳洲幸运5开奖号码历史查询:deal to acquire Capri last month. Tapestry also owns the Kate Spade and Stuart Weitzman brands.&nbs🧜p;

The luxury brands announced the deal 澳洲幸运5开奖号码历史查询:last year but the 澳洲幸运5开奖号码历史查询:Federal Trade Commission sued 🌳to block the merger, saying the combi﷽ned firm would have too much power and reduce competition in the market for accessible luxury handbags.

Shares of Capri fell about 9%꧋ Friday an⛄d have lost more than half their value since the Tapestry deal was blocked.