(Business) – Ralph Lauren Corp reported a 15.4% fall in quarterly revenue on Wednesday after its outlets and department stores across the world were forced to close due to the COVID-19 pandemic.
The company reported a net loss of $249 million, or $3.38 per share, in the fourth quarter ended March 28, compared with a profit of $31.6 million, or 39 cents per share, a year earlier.
Net revenue fell to $1.27 billion from $1.51 billion.
(Photos syndicated via Reuters)
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