capri holdings ltds 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 fourthquarter 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 we recognize that there are nearterm uncertainties in the americas we are encouraged by the strong trends in asia and continued growth in emea ceo john idol said in a statement the company posted a net loss of 34 million or 28 cents a share for the quarter to april 1 after income of 81 million or 54 cents a share in the yearearlier period its adjusted pershare earnings came to 97 cents ahead of the 94 cent factset consensus revenue fell 105 to 1335 billion but topped the 1278 billion factset consensus read now13 retailers posted a good earnings season based on two key measures are their stocks worth a look net inventory was down 36 to 1057 billion versace revenue fell 13 to 274 million in the quarter while jimmy choo revenue was down 32 to 151 million at michael kors revenue fell 109 to 910 million the company is now expecting fiscal 2024 revenue of about 57 billion matching the factset consensus it expects eps of about 640 ahead of the 624 factset consensus it expects modest gross margin expansion and capex of about 260 million the company repurchased about 84 millions shares in the quarter for about 400 million as of april 1 it has 400 million remaining availability in its stock buyback program the stock has fallen 31 in the year to date while the sp 500 has gained 95 this content was created by marketwatch which is operated by dow jones  co marketwatch is published independently from dow jones newswires and the wall street journal