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Ralph Lauren Corp. Cl A

Ralph Lauren’s shares are declining after sales go wrong

Ralph Lauren Inc. share declined by 4.6% in premarket trading on Tuesday after the luxury lifestyle brand reported fiscal Q1 earnings that missed expectations. Net losses were $ 127.7 million, or $ 1.75 per share, after a net profit of $ 117.1 million, or $ 1.47 per share, in 2019. Adjusted losses of $ 1.82 per share were wider than the $ 1.75 per loss FactSet forecast. Revenue of $ 487.5 million fell from $ 1.43 billion last year and was below FactSet’s consensus of $ 600.0 million. The majority of Ralph Lauren is open in North America, Europe and Asia, and stores in key markets are closed for eight to 10 weeks during the quarter. Sales of digital components grew by 13%. Ralph Lauren did not advise due to uncertainty about the coronavirus. Ralph Lauren’s shares have fallen 40.5% this year, while the S&P 500 index has risen 2% for the period.

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