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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

(DATA)
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Ralph Lauren warns resurgence in virus cases could derail recovery

10/29/2020 | 10:22am EST
The outbreak of the coronavirus disease (COVID-19) in Beverly Hills

(Reuters) - Ralph Lauren Corp warned on Thursday that a new wave of COVID-19 cases could hurt its sales recovery in North America and Europe, with consumer demand likely to be pressured for the rest of the year.

Ralph Lauren's shares fell 7%, taking the yearly losses to over 40%, as the company also missed second-quarter sales estimates.

The health crisis has bruised sales of luxury goods companies, which have traditionally avoided online sales, as shoppers resisted visiting physical retail locations even after lockdowns were eased.

"There is a high degree of uncertainty surrounding the second wave of shutdowns... biggest potential threat to our second half recovery," Chief Financial Officer Jane Nielsen said.

"Given the announcements of what we saw in Europe, particularly in France and Germany, and the rising case count in North America, we're not guiding for when we will return to pre-COVID levels."

Germany and France, two huge markets for luxury fashion, on Wednesday ordered their economies back into lockdown, as a massive second wave of coronavirus infections threatened to overwhelm Europe before the winters.

However, Ralph Lauren's sales are rising in China as the country's wealthy shop more online and at local stores.

China's growth could not offset the slump in demand in other parts of the world. Ralph Lauren reported a 30% drop in second-quarter net revenue to $1.19 billion, missing estimates of $1.21 billion, according to IBES data from Refinitiv.

Neil Saunders, managing director of GlobalData, said the scale of the drop, which was worse than other high-end peers, was a sign the company was losing market share.

Coach handbag maker Tapestry Inc reported just a 13.7% fall in net sales on Thursday.

However, Ralph Lauren reported adjusted quarterly earnings of $1.44 per share, beating estimates of 90 cents per share.

(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)

By Uday Sampath Kumar and Mehr Bedi


© Reuters 2020
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Financials
Sales 2020 181 M 242 M 242 M
Net income 2020 23,0 M 30,7 M 30,7 M
Net Debt 2020 67,9 M 90,7 M 90,7 M
P/E ratio 2020 94,6x
Yield 2020 1,05%
Capitalization 1 770 M 2 361 M 2 364 M
EV / Sales 2020 10,1x
EV / Sales 2021 9,49x
Nbr of Employees 3 355
Free-Float 26,5%
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Mean consensus BUY
Number of Analysts 3
Average target price 1 535,67 GBX
Last Close Price 1 500,00 GBX
Spread / Highest target 16,0%
Spread / Average Target 2,38%
Spread / Lowest Target -20,0%
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Managers
NameTitle
Michael Thomas Danson Chief Executive Officer & Director
Bernard Anthony Cragg Chairman
Graham Charles Lilley Chief Financial Officer, Secretary & Director
Peter Martin Harkness Independent Non-Executive Director
Murray Legg Non-Executive Director
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