Ralph Lauren Q1 2021 Earnings Report
Key Takeaways
Ralph Lauren Corporation reported a significant decrease in revenue for the first quarter of Fiscal 2021 due to the adverse impact of COVID-19. Revenue decreased by 66% to $487 million. The company reported a net loss of $128 million, or ($1.75) per diluted share, and an adjusted net loss of $133 million, or ($1.82) per diluted share. Despite these challenges, digital comp sales increased, and the company strengthened its balance sheet with over $2.7 billion in cash and investments.
First quarter revenues were $487 million, reflecting the adverse impact of COVID-19.
Digital comp sales accelerated to 13% growth.
Average unit retail increased 25%, driven by geographic and retail channel mix shifts and ongoing brand elevation initiatives.
The company strengthened its balance sheet with over $2.7 billion in cash and investments.
Ralph Lauren
Ralph Lauren
Ralph Lauren Revenue by Segment
Forward Guidance
Due to the ongoing high level of uncertainty and evolving situation surrounding COVID-19, the company continues to suspend all future guidance and expects financial results for both the second quarter and full year Fiscal 2021 to be significantly adversely impacted by the pandemic and prolonged demand recovery.
Revenue & Expenses
Visualization of income flow from segment revenue to net income