Ralph Lauren: stock hit after Q1 loss

(CercleFinance.com) - The Ralph Lauren share is down over 7% on Wall Street, following the publication of an adjusted loss of 1.
82 dollar per share for Q1 2020-21, compared to an almost symmetrical EPS of 1.77 dollar a year ago.

The New York-based upmarket fashion house saw revenues fall by two thirds to 487 million dollars, reflecting the impact of the pandemic, while adjusted operating expenses were reduced by only 30% in comparison.

"Due to the ongoing high level of uncertainty and evolving situation surrounding COVID-19, we continue to suspend all future guidance," added Ralph Lauren, which still expects to be "significantly adversely impacted" by the pandemic.


Copyright (c) 2020 CercleFinance.com. All rights reserved.