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.
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.