Ralph Lauren: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ Ralph Lauren Corp. (RL) on Tuesday reported fiscal first-quarter profit of $117.1 million.
On a per-share basis, the New York-based company said it had net income of $1.47. Earnings, adjusted for non-recurring costs, came to $1.77 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The upscale clothing company posted revenue of $1.43 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.41 billion.
Ralph Lauren shares have climbed almost 8% since the beginning of the year, while the Standard & Poor’s 500 index has increased 21%. The stock has decreased 18% in the last 12 months.