Ralph Lauren Corp (NYSE:RL) saw its shares gain traction Wednesday morning on the newest earnings figures.
The New York-based fashion giant reported earnings per diluted share of ($3.38) on a reported basis and ($0.68) on an adjusted basis, excluding restructuring-related and other charges, for the fourth quarter of Fiscal 2020.
This compared to earnings per diluted share of $0.39 on a reported basis and $1.07 on an adjusted basis, excluding restructuring-related and other charges, for the fourth quarter of Fiscal 2019.
For Fiscal 2020, earnings per diluted share were $4.98 on a reported basis and $6.56 on an adjusted basis, excluding restructuring-related and other charges. This compared to earnings per diluted share of $5.27 on a reported basis and $7.19 on an adjusted basis, excluding restructuring-related and other charges, for the full year of Fiscal 2019.
Lauren himself said, "For more than 50 years, we have embraced the idea of timelessness - it defines not only our products but our business and our culture. It has guided us through the best and the worst of times and will carry us through this unprecedented challenge too.
"Together our leaders and teams worldwide remain focused on not only enduring through this global pandemic but thriving for decades to come, and supporting the communities where we operate around the world."
The company also pointed to The Ralph Lauren Corporate Foundation, which it says committed $10 million toward emergency COVID-19 relief, with funds allocated to the World Health Organization, different concerns regarding cancer care, Employee Relief Fund for Ralph Lauren employees, and the Council of Fashion Designers of America (CFDA) / Vogue Fashion Fund for COVID-19 relief.
RL shares grabbed $2.10, or 2.6%, to $83.47.
