Shares of Ralph Lauren (NYSE: RL) closed lower on Friday, after the company reported a quarterly loss that was wider than Wall Street had expected and suspended its guidance for the upcoming fiscal year.
Ralph Lauren's shares ended Friday's session at $75.51, down 5.6% from Thursday's closing price.
Ralph Lauren reported earnings for its fiscal fourth quarter after the market closed on Thursday, and they weren't quite what Wall Street had expected. The company's net loss in the three-month period that ended on March 28 was $50.5 million, or $0.68 per share, on a non-GAAP adjusted basis, on revenue of $1.27 billion. Both were down from a year earlier, when it reported adjusted earnings (a profit) of $1.07 per share on revenue of $1.51 billion.