Ralph Lauren misses quarterly revenue estimates

Ralph Lauren misses quarterly revenue estimates

Ralph Lauren Corp missed quarterly revenue estimates on Thursday, as fewer customers spent on its high-end apparel and accessories during the COVID-19 pandemic.

The outbreak of the coronavirus disease (COVID-19) in Beverly Hills
FILE PHOTO: A security guard stands outside the Ralph Lauren store during the outbreak of the coronavirus disease (COVID-19), in Beverly Hills, California, U.S., July 30, 2020. REUTERS/Mario Anzuoni

REUTERS: Ralph Lauren Corp missed quarterly revenue estimates on Thursday, as fewer customers spent on its high-end apparel and accessories during the COVID-19 pandemic.

Net revenue fell about 30per cent to US$1.19 billion in the second quarter ended Sept. 26, missing analysts' average estimate of US$1.21 billion, according to IBES data from Refinitiv.

(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)

Source: Reuters

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