Ralph Lauren tops 2Q profit forecasts

Markets Associated Press

Ralph Lauren Corp. (RL) on Thursday reported fiscal second-quarter profit of $45 million.

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The New York-based company said it had profit of 55 cents per share. Earnings, adjusted for restructuring costs, were $1.90 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.

The upscale clothing company posted revenue of $1.82 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.83 billion.

Ralph Lauren shares have fallen slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 6 percent. The stock has declined 24 percent in the last 12 months.

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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 https://www.zacks.com/ap/RL

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Keywords: Ralph Lauren, Earnings Report