Ralph Lauren posts 1Q profit of $64 million, result tops expectations

Markets Associated Press

Ralph Lauren Corp. (RL) on Wednesday reported fiscal first-quarter profit of $64 million.

Continue Reading Below

The New York-based company said it had profit of 73 cents per share. Earnings, adjusted for restructuring costs, were $1.09 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1 per share.

The upscale clothing company posted revenue of $1.62 billion in the period.

Ralph Lauren shares have declined 33 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 2 percent. The stock has dropped 21 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