Analyst: Capri Holdings Needs Longer Investment Horizon to Pay Off
It's not surprising Capri Holdings (NYSE: CPRI) has lost two-thirds of its valuation this year as the COVID-19 pandemic shutdown all but essential retail operations. Piper Sandler analyst Erinn Murphy says that means investors will need a much longer timeline to see her investment thesis pay off.
It's not just that consumers are no longer able to go to the store to buy clothes, Murphy said in a note to clients. According to Thefly.com, Sandler says the work-from-home ethos that now permeates many jobs, a condition that may long outlast the crisis, is transforming the way people think about their wardrobe.
Image source: Getty Images.
Source Fool.com
