What's happening 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. So what 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. Image source: Ralph Lauren. Now, however, there are larger concerns. First, a significant outbreak of the virus in North America now seems more likely, and any widespread social-distancing measures could have a big impact on foot traffic and sales at Ralph Lauren's own stores, as well as the brick-and-mortar retailers that sell the company's fashion lines. Second, and related: The epidemic, plus the steep fall in oil prices, together raise the possibility of a recession in the near term. That would obviously have a significant impact on the company's sales and margins for at least a few quarters. Now what Ralph Lauren has promised a detailed update to its guidance when it reports its fiscal fourth-quarter and full-year results in May. But it may need to issue updated guidance sooner, especially if it looks likely that the current quarter's sales will come in below the revised range it gave in February. 10 stocks we like better than Ralph Lauren CorpWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Ralph Lauren Corp wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 John Rosevear has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source