The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Ralph Lauren Forecasts Full-Year Revenue Below Estimates

The Ralph Lauren store on Rodeo Drive in Beverly Hills. Getty Images. (AaronP/Bauer-Griffin)

Reuters

20 May 2021

Ralph Lauren Corp forecast full-year sales below analysts’ estimates on Thursday, anticipating a further hit from store closures in parts of Europe and Japan due to Covid-19 curbs, even as demand rebounds in China and the United States.

The retailer, popular for its Polo shirts, said it expects fiscal 2022 revenue on a constant currency basis to increase about 20 percent to 25 percent. Analysts were expecting a 31.1 percent rise.

Shares of the company were down 3 percent before the bell.

Net revenue rose to $1.29 billion in the fourth quarter from $1.27 billion a year earlier. Analysts on average had expected revenue of $1.21 billion, according to Refinitiv IBES data.

The company reported a net loss of $74.1 million, or $1.01 per share, compared with a loss of $249.0 million, or $3.38 per share, a year earlier.

Reporting by Mehr Bedi and Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila

In This Article

Topics

Retail

Organisations

Ralph Lauren Corp

US Sues to Block $8.5 Billion Union of Coach, Michael Kors

Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.

Op-Ed | How Long Can Adidas Surf the ‘Terrace’ Trend?

As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.

How Rent the Runway Came Back From the Brink

The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.

For Struggling Public Companies, Going Private Is No Panacea

Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.