Ralph Lauren Shares Fall After Swing to 2nd-Quarter Loss

Ralph Lauren  (RL) – Get Report shares were lower after the apparel company reported a second-quarter net loss and adjusted earnings stronger than Wall Street expected. 

The New York company swung to a net loss of $39.1 million, or 53 cents a share, from net income of $182.1 million, or $2.34 a share, in the year-earlier period. 

Adjusted earnings of $1.44 a share were down from $2.55 a year earlier but exceeded analyst expectations of 85 cents in a survey by FactSet.

Revenue of $1.19 billion was in line with the analyst consensus of $1.2 billion. Revenue declined in all regions due to covid-19-related impacts. 

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