Ralph Lauren (RL) - Get Report shares were up more than 3% premarket after the clothing company reported a fourth quarter net loss of $204 million, or an adjusted profit 89 cents per share, topping analyst expectations by a dime.
The company also reported revenue of $1.57 billion in the period, falling just short of analysts' $1.59 billion expectations. For the year, the company swung to a loss of $99.3 million on revenue of $6.65 billion.
Yesterday Ralph Lauren announced that former Procter & Gamble (PG) - Get Report executive Patrice Louvet as its new president and CEO. Previous CEO Stefan Larsson left the company in May after less than two years on the job due to creative differences with Lauren.
Louvet will start July 17.
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