Why Shares of Ralph Lauren Are Down Sharply Today
Shares of Ralph Lauren (NYSE: RL) were down sharply on Monday morning, as a steep drop in oil prices and mounting concerns about a virus pandemic drove a broad-based market sell-off.
As of 11:30 a.m. EDT, Ralph Lauren's shares were down about 8.7% from Friday's closing price.
To some extent, investors in Ralph Lauren had already taken the effects of the novel coronavirus and the disease it causes, COVID-19, into account before Monday's sell-off. The company itself warned in February that it expected store closings and disruptions in Asia to cost it between $55 million and $70 million in the current quarter, which will end on March 31.
Source Fool.com
