Shares in Ralph Lauren (RL) are still trading near their March lows, even after the broad market has recuperated all losses. The weak performance in RL is not unexpected, as the consumer retail market, in general, has been severely beaten up due to state-mandated shutdowns to combat the spread of COVID-19.
Since RL's financial year ends in March, the company reported year-over-year declining sales of just 2.4%. That said, the true impact of COVID-19 government-mandated shutdowns are going to be felt throughout the year. For now, analysts are expecting a decline in