Ralph Lauren reports 1Q loss
NEW YORK (AP) — Ralph Lauren Corp. (RL) on Wednesday reported a fiscal first-quarter loss of $22 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 27 cents per share. Earnings, adjusted for restructuring costs, were $1.06 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The upscale clothing company posted revenue of $1.55 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.53 billion.
Ralph Lauren shares have decreased 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 7 percent. The stock has dropped 21 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RL at http://www.zacks.com/ap/RL
Keywords: Ralph Lauren, Earnings Report