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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Hermès International    RMS   FR0000052292

HERMÈS INTERNATIONAL

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Ralph Lauren revenue sinks as pandemic hammers demand

08/04/2020 | 07:28am EST
The outbreak of the coronavirus disease (COVID-19) in Beverly Hills

Ralph Lauren Corp said on Tuesday its quarterly revenue plunged by nearly $1 billion, as it struggled with coronavirus-led store closures and a slowdown in demand for luxury goods across the world.

The big drop in revenue and a larger-than-expected loss pushed shares of the New York-based fashion house down nearly 7% in trading before the bell.

The company's revenue slumped 77% in North America, with analysts saying demand for high-end handbags, apparel and accessories is not expected to rebound quickly as the global economy enters a recession.

Ralph Lauren is more exposed to the health crisis than other apparel companies as its jackets, coats and dresses are designed for social or formal occasions, said Neil Saunders, managing director of research firm GlobalData Retail.

"While some customers have been prepared to pay premium dollars for luxury apparel, many middle-income shoppers have de-prioritized their spending on clothing in favor of spending on the home - an area where Ralph Lauren does play, but not nearly as strongly as it should," Saunders said.

Ralph Lauren's net revenue fell 66% to $487.5 million, missing analysts' average estimate of $615 million, according to IBES data from Refinitiv.

Sales at European luxury goods giants LVMH, Kering and Hermes fell between 38% and 44%, much slower than those posted by the company.

Ralph Lauren also reported a mere 3% rise in North American online sales, a far cry from triple-digit sales increases recorded by a number of U.S. retailers.

The company reported a net loss of $127.7 million (97.78 million pounds), or $1.75 per share, in the first quarter ended June 27, compared with a profit of $117.1 million, or $1.47 per share, a year earlier.

Excluding certain items, Ralph Lauren reported a loss of $1.82 per share, while analysts were expecting a loss of $1.72 per share.

(Reporting by Uday Sampath in Bengaluru; Editing by Anil D'Silva)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GLOBALDATA PLC 0.00% 1500 Delayed Quote.16.28%
HERMÈS INTERNATIONAL 0.58% 827.2 Real-time Quote.23.45%
KERING SA -0.46% 605.1 Real-time Quote.3.88%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 0.22% 497.85 Real-time Quote.19.93%
RALPH LAUREN CORPORATION 0.34% 88.92 Delayed Quote.-24.40%
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Financials
Sales 2020 6 226 M 7 543 M 7 543 M
Net income 2020 1 149 M 1 392 M 1 392 M
Net cash 2020 4 598 M 5 571 M 5 571 M
P/E ratio 2020 76,5x
Yield 2020 0,53%
Capitalization 86 526 M 105 B 105 B
EV / Sales 2020 13,2x
EV / Sales 2021 11,1x
Nbr of Employees 15 698
Free-Float 31,7%
Chart HERMÈS INTERNATIONAL
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Technical analysis trends HERMÈS INTERNATIONAL
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 733,14 €
Last Close Price 827,20 €
Spread / Highest target 13,9%
Spread / Average Target -11,4%
Spread / Lowest Target -50,4%
EPS Revisions
Managers
NameTitle
Axel Dumas Co-Executive Chairman-Management Board
Henri-Louis Bauer Co-Executive Chairman-Management Board
Éric de Seynes Chairman-Supervisory Board
Éric Marie Joseph du Halgouët Executive Vice President-Finance
Charles-Éric Bauer Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
HERMÈS INTERNATIONAL23.45%103 693
LVMH MOËT HENNESSY - LOUIS VUITTON SE19.93%301 402
ESSILORLUXOTTICA-7.40%66 131
LULULEMON ATHLETICA INC.62.96%49 196
COMPAGNIE FINANCIÈRE RICHEMONT SA-1.42%47 026
VF CORPORATION-16.32%33 076