Ralph Lauren lost $127M in first quarter of 2020: Report
Preppy fashion retailer reported a first-quarter loss of $127.7 million
Face masks are taking over the fashion industry as the top trend of coronavirus. FOX Business' Gerri Willis with more.
Ralph Lauren Corp. (RL) on Tuesday reported a fiscal first-quarter loss of $127.7 million, after reporting a profit in the same period a year earlier.
RALPH LAUREN'S AMERICAN DREAM: FROM RAGS TO RICHES
May 18, 2014: Ralph Lauren Store at Geneva Airport, Switzerland. (iStock)
On a per-share basis, the New York-based company said it had a loss of $1.75. Losses, adjusted for non-recurring gains, were $1.82 per share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RL | RALPH LAUREN CORP. | 164.93 | +1.32 | +0.81% |
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.53 per share.
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The upscale clothing company posted revenue of $487.5 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $660.7 million.
In this Wednesday, Feb. 15, 2017 photo, designer Ralph Lauren waves to the applause of attendees after his Fall 2017 collection was modeled at the clothier's flagship store in New York. (AP Photo/Kathy Willens)
Ralph Lauren shares have dropped 41% since the beginning of the year, while the Standard & Poor's 500 index has risen 2%. The stock has decreased 29% in the last 12 months.