Ralph Lauren Suspends Future Financial Guidance Amid COVID-19 - Quick Facts

(RTTNews) - While reporting its financial results for the fourth quarter on Wednesday, luxury fashion house Ralph Lauren Corp. (RL) said it is suspending all future guidance, due to the high level of uncertainty and evolving situation surrounding COVID-19 pandemic.

The company added that it expects financial results for the first quarter and full-year 2021 to be significantly negatively impacted by the pandemic. Though the timing and path of recovery in each market presents many uncertainties, it has developed scenarios through which it plans to safely return its businesses to growth and value creation.

The company has previously also halted any incremental share repurchases during the COVID-19 crisis, having completed its repurchase program in fiscal 2020. It has also temporarily suspended quarterly cash dividend.