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Markets News

Ralph Lauren misses quarterly revenue estimates

Oct 29 (Reuters) - Ralph Lauren Corp missed quarterly revenue estimates on Thursday, as fewer customers spent on its high-end apparel and accessories during the COVID-19 pandemic.

Net revenue fell about 30% to $1.19 billion in the second quarter ended Sept. 26, missing analysts’ average estimate of $1.21 billion, according to IBES data from Refinitiv.

Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli

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