Ralph Lauren Corp. (RL) on Tuesday reported a fiscal first-quarter loss of $127.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of $1.75. Losses, adjusted for non-recurring gains, were $1.82 per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.53 per share.

The upscale clothing company posted revenue of $487.5 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $660.7 million.

Ralph Lauren shares have dropped 41% since the beginning of the year, while the Standard & Poor’s 500 index has risen 2%. The stock has decreased 29% in the last 12 months.