Ralph Lauren Shares Rise After Earnings Beat Expectations

Ralph Lauren Corp. shares rose 2.5% in Thursday premarket trading after it reported adjusted fourth-quarter earnings that beat expectations. The company had a net loss of $204.0 million, or $2.48 per share, after income of $41.3 million, or 49 cents per share, for the same period last year. Adjusted EPS was 89 cents, ahead of the 78-cent FactSet consensus. Revenue was $1.57 billion, down from $1.87 billion last year, but ahead of the $1.56 billion FactSet consensus. Same-store sales fell 11% for the quarter. Ralph Lauren expects first-quarter of fiscal 2018 revenue to fall in the low double-digits. Ralph Lauren shares are down 19.5% for the year so far, while the S&P 500 index is up 5.3% for the period.