Michael Kors’ parent company, Capri Holdings, reported its financial results for the quarter ending June 30. The group’s revenue plummeted by 13.2% YoY to $1.07 billion. While losses narrowed from $48 million last year to $14 million this year, the gross profit margin decreased by 1.5 percentage points to 64.6%. Revenue from retail and wholesale channels fell by high and low double digits, respectively. By brand, Michael Kors saw a 14% drop in revenue to $680 million, with an operating profit of $75 million. Versace’s revenue fell 15.4% to $220 million, resulting in an operating loss of $17 million. Jimmy Choo’s revenue decreased by 5.5% to $170 million, with an operating profit of $4 million.