Ralph Lauren beats 2Q profit forecasts

MarketsAssociated Press

Ralph Lauren Corp. (RL) on Thursday reported fiscal second-quarter net income of $143.8 million.

On a per-share basis, the New York-based company said it had net income of $1.75. Earnings, adjusted for restructuring costs, were $1.99 per share.

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The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.

The upscale clothing company posted revenue of $1.66 billion in the period.

Ralph Lauren shares have dropped 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent. The stock has declined slightly more than 9 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on RL at https://www.zacks.com/ap/RL