Ralph Lauren misses 3Q earnings and revenue expectations

Markets Associated Press

Ralph Lauren Corp. (RL) on Wednesday reported fiscal third-quarter earnings of $215 million.

Continue Reading Below

The New York-based company said it had net income of $2.41 per share.

The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.

The upscale clothing company posted revenue of $2.03 billion in the period, which also fell short of Street forecasts. Analysts expected $2.11 billion, according to Zacks.

Ralph Lauren shares have fallen almost 8 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has risen 11 percent in the last 12 months.

_____

Continue Reading Below

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