The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Ralph Lauren Corp missed revenue estimates for the second quarter on Thursday, as fewer customers spent on its high-end apparel and accessories during the Covid-19 pandemic.
The luxury apparel retailer said it expects third quarter and full year earnings to continue to be adversely affected by the pandemic that has dulled consumer demand.
Net revenue fell about 30 percent to $1.19 billion in the quarter ended September 26, missing analysts' average estimate of $1.21 billion, according to IBES data from Refinitiv.
The company reported a net loss of $39.1 million, or 53 cents per share, compared with a profit of $182.1 million, or $2.34 per share, a year earlier.
By Uday Sampath; editor: Shinjini Ganguli.
The Hood By Air co-founder’s ready-to-wear capsule for the Paris-based perfume and fashion house will be timed to coincide with the Met Gala in New York.
Revenues fell on a reported basis, confirming sector-wide fears that luxury demand would continue to slow.
IWC’s chief executive says it will keep leaning into its environmental message. But the watchmaker has scrapped a flagship sustainability report, and sustainability was less of a focus overall at this year’s Watches and Wonders Geneva.
The larger-than-life Italian designer, who built a fashion empire based on his own image, died in Florence last Friday.