On Friday fashion retail giant Ralph Lauren Corp (
) reported mixed earnings, as profit missed estimates but revenue
The New York based compared reported second quarter net income
of $213.7 million, or $2.29 per share, down 8.5% from $233.5
million, or $2.46 per share, a year earlier. Excluding on time
items, RL reported $2.45 earnings per share, above Wall Street
analysts estimate of $2.15 earnings per share.
Revenue for Ralph Lauren fell 2.2% to $1.86 billion in the
quarter, exceeding analysts estimates of $1.84 billion.
Looking forward the company lowered its forecast, now expecting
revenue to rise between 2% and 3% for the fiscal year ending in
March, compared with its previous forecast of mid single digit
Ralph Lauren shares were up $3.46, or +2.18%, in premarket
trading on Friday.
Ralph Lauren Corp (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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