The fashion giant’s shares are having terrible two weeks, as the price stumbles down with more than 13% since the beginning of May, despite a earnings report that was received with mixed reviews [source].
On Tuesday the company reported EPS of $1.07 which surpassed the initial forecasts of just $0.89 and also beat Ralph Lauren’s performance for the same quarter last year when the EPS were reported to be at 90 cents per share.
Despite the overwhelmingly positive earnings per share, the company’s stock suffered from a decline in the net revenue from $1.53 billion for the last quarter of the fiscal year 2018 to $1.51. Even though the total revenue still managed to beat the market forecasts of just $1.47 billion, the arguably positive data from the report was still not enough to outweigh the shattered investor confidence.
As a result of that, Ralph Lauren’s share price stumbled during yesterday’s trading session, and it fell it 8.30% overall, from the day’s opening price at 121.71 to eventually closing at 113.95. Initially, the price collapsed as low as 108.51, but found support there and managed to bounce back up slightly.
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