Ralph Lauren: Fiscal 3Q Earnings Snapshot
NEW YORK (AP) _ Ralph Lauren Corp. (RL) on Tuesday reported fiscal third-quarter profit of $334.1 million.
The New York-based company said it had net income of $4.41 per share. Earnings, adjusted for non-recurring gains, came to $2.86 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.45 per share.
The upscale clothing company posted revenue of $1.75 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $1.72 billion.
Ralph Lauren shares have dropped 3% since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 1%. The stock has declined 2% in the last 12 months.