Ralph Lauren: Fiscal 4Q Earnings Snapshot
Posted May 27, 2020 8:36 am.
Last Updated May 27, 2020 8:38 am.
NEW YORK (AP) _ Ralph Lauren Corp. (RL) on Wednesday reported a fiscal fourth-quarter loss of $249 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of $3.38 per share. Losses, adjusted for non-recurring costs, were 68 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The upscale clothing company posted revenue of $1.27 billion in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $1.29 billion.
For the year, the company reported profit of $384.3 million, or $4.98 per share. Revenue was reported as $6.16 billion.
Ralph Lauren shares have fallen 33% since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 7%. The stock has dropped 29% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RL at https://www.zacks.com/ap/RL
The Associated Press
