Visitors Now:
Total Visits:
Total Stories:
Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Ralph Lauren Maintains Outlook As Q2 Earnings Beat Expectations

Thursday, November 10, 2016 6:49
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Apparel maker and retailer Ralph Lauren Corp (NYSE:RL) early Thursday posted better than expected fiscal second quarter earnings results and stood by its tepid outlook.

The New York-based company reported fiscal Q2 adjusted EPS of $1.90, a full 19 cents better than Wall Street’s estimate of $1.71. Revenue fell 7.6% from last year to $1.82 billion, narrowly beating analysts’ view of $1.81 billion.

International net revenue rose 2% in the latest period, while North American sales plunged 12%. Wholesale revenue fell 10% from last year, and retail revenue fell 5%.

Consolidated comparable store sales (comps) fell 8% year-over-year, but the company used fewer discounts and was able to lower inventory levels by 15%.

Looking ahead, RL maintained its previously-announced full-year fiscal 2017 revenue guidance for a low-double digit sales decrease. It also expects 2017 operating margins around 10%, with fiscal Q3 also down in the low-double digits to down low-teens on a reported basis, while analysts are looking for an 11.8% fall.

The company commented via press release:

“We are changing with the consumer, as we demonstrated in September with our first-ever ‘see-now-buy-now’ runway show at our flagship store on Madison Avenue,” said Ralph Lauren, Executive Chairman and Chief Creative Officer. “I am confident that this industry leading endeavor in combination with our other elements of the Way Forward plan are strengthening our brand to support future profitable growth.”

Ralph Lauren shares in premarket trading Thursday. Prior to today’s report, RL had fallen 8.37% year-to-date.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.