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Ralph Lauren posted lower-than-expected earnings

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 Septembrie 2020
The second quarter was disappointing for Ralph Lauren

The past quarter wasn’t too kind to the luxury lifestyle brand Ralph Lauren

The brand's net losses came in at $127.7 million, or $1.75 per share. At the same time last year, it had a net income of $117.1 million.

Its revenue came lower than last year's figures and missed this year's consensus of $600 million. Revenue dropped from the previous year's $1.43 billion to $487.5 million. Ralph Lauren marked only one increase – that being in digital sales. Due to the pandemic and stores being closed for ten weeks during the quarter, online sales grew 13%.

Ralph Lauren's stock price fell 4.6% during today's pre-market trading. Since the beginning of the year, shares lost 40.5%, while USA500 added 2%.

Read more about the fashion industry on CAPEX.com!

Sources: marketwatch.com, businesswire.com

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Miguel A. Rodriguez
Miguel A. Rodriguez
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Miguel a lucrat pentru instituții financiare importante, precum Banco Santander și Banco Central-Hispano. De asemenea, a publicat cărți despre Forex.