The last time I covered Royal Mail (LSE: RMG) shares was back on 10 February when the share price was around 175p. At the time, the FTSE 250 company had just issued a disappointing trading update, in which it advised that the outlook for 2020-21 was “challenging”. That’s not what you want to hear as an investor. As a result, I said that the shares were not worth the risk and that there were much better stocks to buy.Fast forward to today, and that now looks like the right call. This week, Royal Mail shares crashed again after the company issued another set of poor results. As I write this, the shares are trading at 160p, which represents a decline of nearly 10% since my article in February. Here, I’ll take a look at the latest results from Royal Mail and give my thoughts on the FTSE 250 stock now.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Large drop in profitsIt’s fair to say that this week’s full-year results from Royal Mail were pretty ugly.While revenue for the year was up 3.8%, profits were well down. Adjusted profit before tax, for example, was down 31% to £275m. Meanwhile, basic earnings per share decreased 36% to 19.6p.Dividends were well down as well. For the year, the total dividend was just 7.5p (compared to 25p last year), after the board decided not to recommend a final dividend for 2019-20.No dividend this yearMaking matters worse, the guidance for the near term did not look good.Not only did the company advise that the unprecedented nature of pandemic means the outlook is “challenging and volatile”, but it also said that it expects its UK division (UKPIL) to be “materially loss-making” in 2020-21. Furthermore, it said that it expects to pay no dividend in 2020-21.Royal Mail also provided two potential scenarios of how the business could perform in 2020-2021. In the first scenario – which assumes a UK GDP decline of 10% for 2020-21 – UKPIL revenue is likely to be £200m to £250m lower year-on-year. In the second scenario – which assumes a deeper recession – UKPIL revenue could be £500m to £600m lower year-on-year.All in all, these results, and the future outlook, were not encouraging.Turnaround planNow, the company did say that it is going to implement a ‘three-step’ plan in an effort to turn things around. It plans to cut costs significantly, and accelerate the pace of operational change in the UK to address long-standing challenges.However, we’ve heard these kinds of things before from Royal Mail. So I’d take this turnaround plan with a pinch of salt.Royal Mail shares: my viewLooking at these results, my view on Royal Mail shares remains the same as it was in February. In my opinion, it’s a stock to avoid.Forget about the fact that the shares are cheap. This is a company that is experiencing a number of major challenges right now and is likely to continue experiencing challenges for at least a few years, in my view.And it’s now paying no dividends, so it’s not even a good income stock these days.I think the best move is to steer clear of Royal Mail shares at the moment.All things considered, I think there are much better stocks to buy right now, particularly if you’re investing for income. Edward Sheldon, CFA | Saturday, 27th June, 2020 | More on: RMG Image source: Getty Images See all posts by Edward Sheldon, CFA I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. 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Jamie Oliver is to open an Italian restaurant in Oxford in what used to be the Cock and Camel pub on George Street.Jamie bought the former Young’s pub and hotel after it closed earlier this month. The new restaurant is to be one of the first in his new chain, ‘Jamie’s Italian’. He plans for around 40 such restaurants to open on high streets around the country within the next few years. The idea is to create a chain of affordable, high-quality, rustic Italian restaurants in town centres. All pasta will be freshly made on site and the bread will be created daily by artisan bakers. There will be lots of vegetarian options, and the chicken will be free-range.Jamie Oliver’s publicist, Peter Berry, said that Jamie wanted to change the face of high street dining. “Jamie believes that outside London, there are a handful of good local restaurants but they are few and far between. Jamie’s Italian aims to change all that,” he said.Prices will start at around £5 for a pasta dish, and it will be possible to have an entire meal with drinks for around £10-12 per head. Given its low prices, students will be a key target clientele for the new restaurant.“We absolutely hope to appeal to students who might be on a tight budget but also care about what they eat,” said Peter Berry. “The restaurant will be open 7 days serving breakfast, lunch and dinner so it works for students wanting to grab a quick bite between seminars, lectures – whatever,” he added. There is some scepticism as to whether Jamie has the right credentials to be opening an Italian restaurant. One person commented on the Oxford Mail website: “This is a joke. How can a wannabe cockney open an Italian restaurant? Leave to the Italians!” However, Umberto Garabello, President of the Oxford University Italian Society, does not think this matters. In fact, he is very much looking forward to the opening of Jamie’s new restaurant. He said, “I believe Jamie Oliver is a fantastic and incredibly passionate cook: I often use recipes from his websites and cookbooks as I’m a big fan of his ‘hearty-and-apparently-effortless’ food.” He added: “I’ve had a few reasonable Italian meals in Oxford before but I normally find quality and authenticity to be fairly poor. If Jamie sticks to what seems to be the concept behind the chain, we are definitely going to have a new winner.”