August 7, 2019 / 1:39 PM / 2 months ago

Michael Kors-owner Capri says no plans to raise prices despite higher tariff threat

(Reuters) - Michael Kors-owner Capri Holdings Ltd (CPRI.N) has no plans to raise prices even if tariffs on Chinese imports go up to 25%, Chief Executive Officer John Idol said on Wednesday.

Idol also said the tariffs would not impact the company’s full-year earnings.

Late last month, U.S. President Donald Trump threatened to impose 10% tariffs on the remaining $300 billion worth of goods from China from Sept. 1 that some U.S. retailers have warned would lead to higher prices.

The company backed its full-year earnings forecast of $4.95 per share, which included the potential impact of the 10% tariffs.

Reporting by Uday Sampath in Bengaluru; Editing by Anil D'Silva

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