Ralph Lauren (NYSE:RL) earnings for the fourth quarter of 2020 have RL stock slightly down on Wednesday. This comes after reporting revenue of $1.27 billion, which is below Wall Street’s estimate of $1.29 billion. The company also reported adjusted loss per share of 68 cents, while analysts were expecting adjusted earnings per share (EPS) of 1 cent for the quarter.
Furthermore, the company reported GAAP per-share losses of $3.38 for the period.
Now let’s see what else is worth mentioning from the most recent Ralph Lauren earnings report.
- Adjusted loss per share was a negative switch from EPS of $1.07 during Q4 2019.
- Revenue for the quarter comes in 15.9% lower compared to $1.51 billion during the same time last year.
- Operating loss of $283.8 million is much worse year-over-year than operating income of $27.9 million.
- Ralph Lauren’s earnings also includes a net loss of $249 million.
- That doesn’t look great next to net income of $31.6 million during the fourth quarter of 2019.
Patrice Louvet, president & CEO of Ralph Lauren, said this about the RL stock earnings report:
“From the onset of COVID-19, our teams moved quickly around the world to protect the safety and well-being of our employees, consumers, and communities, while also taking steps to ensure our long-term financial health and bring relevant digital commerce and experiences to our consumers. As we manage for the near- and long-term, we remain committed to consistently delivering sustainable growth and value creation for all of our stakeholders. We are confident in our ability to do this thanks to the strength of our business, our balance sheet and our brands, and especially the resilience and commitment of our diverse global teams.”
Additionally, according to the release, Ralph Lauren is suspending its fiscal 2021 and Q1 guidance. This is due to the ongoing effects of the novel coronavirus on the company. That said, we know what Wall Street is expecting. Analysts’ estimates call for EPS of $5.65 on revenue of $5.82 billion.
RL stock was up earlier in the day on the earnings, but is now less than 1% lower on Wednesday.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.