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Ralph Lauren Tops Second-Quarter Profit Forecasts

Ralph Lauren Corp. on Thursday reported fiscal second-quarter profit of $45 million.
Source: Ralph Lauren
By
  • Associated Press

NEW YORK, United States — Ralph Lauren Corp. on Thursday reported fiscal second-quarter profit of $45 million.

The New York-based company said it had profit of 55 cents per share. Earnings, adjusted for restructuring costs, were $1.90 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.

The upscale clothing company posted revenue of $1.82 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.83 billion.

Ralph Lauren shares have fallen slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 6 percent. The stock has declined 24 percent in the last 12 months.

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