The most common and most likely answer to this crossword clue is the 4 letter word LOOS
L
O
O
S
Buddy explains!

The straight part
We know that "Ladies" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case ladies = loos.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does LOOS mean?
LOOS noun- A half-mask, particularly those velvet half-masks fashionable in the 17th century as a means of protecting women's complexion from the sun.
- A lavatory: a room used for urination and defecation.
- A toilet: a fixture used for urination and defecation.
- Praise, fame, reputation.