Ralph Lauren Corp missed estimates for quarterly revenue on Tuesday, as it struggled to recover from the widespread coronavirus closures earlier this year of outlets and department stores across the world.
FILE PHOTO: A security guard stands outside the Ralph Lauren store during the outbreak of the coronavirus disease , in Beverly Hills, California, U.S., July 30, 2020. REUTERS/Mario AnzuoniREUTERS: Ralph Lauren Corp missed estimates for quarterly revenue on Tuesday, as it struggled to recover from the widespread coronavirus closures earlier this year of outlets and department stores across the world.
The company reported a net loss of US$127.7 million, or US$1.75 per share, in the first quarter ended June 27, compared with a profit of US$117.1 million, or US$1.47 per share, a year earlier.Net revenue fell to US$487.5 million from US$1.43 billion, missing analysts' average estimate of US$615 million, according to IBES data from Refinitiv.
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