The American fashion label Ralph Lauren witnessed a disappointing fourth quarter as far as its revenues are concerned.
The fashion brand saw a fall of 15 per cent in its Q4 revenue by clocking US $ 1.3 billion – majorly owing to the COVID-19 impact. Add to it, the protests in Hong Kong too haven’t helped the matter much.
In North America, the revenue went down by 11 per cent to touch US $ 629 million in Q4, while the wholesale revenue fell by 12 per cent to last year.
As far as retail is concerned, comparable store sales in North America too slumped by 13 per cent. This included 15 per cent fall in bricks-and-mortar stores and 2 per cent fall in online.
Europe and Asia too were no different for Ralph Lauren. While in Europe, wholesale revenue fell by 21 per cent on reported basis and 18 per cent in constant currency, in Asia, the revenue slumped by 22 per cent on reported basis and 21 per cent in constant currency.
Notably, gross profit for the fourth quarter was US $ 594 million and gross margin was 46.7 per cent.