Ralph Lauren 4Q Profit Drops on Higher Tax Expense, Restructuring Costs
May 14 2019 - 8:52AM
Dow Jones News
By Kimberly Chin
Ralph Lauren Corp. (RL) said profit fell 23% in the fourth
quarter as the company had a higher tax expense compared with a
benefit in the comparable quarter a year ago, as well as higher
restructuring costs and other charges.
The retailer posted a profit of $31.6 million, or 39 cents a
share, compared with $41.3 million, or 50 cents a share, a year
earlier. Analysts polled by Refinitiv were expecting earnings of 17
cents a share.
Adjusted earnings were $1.07 a share, above analysts'
expectations of 90 cents a share.
Net revenue for the quarter fell 1.6% to $1.51 billion from the
year prior. Analysts were expecting revenue of $1.48 billion.
Comparable-store sales rose 1% excluding currency fluctuations.
Analysts polled by Consensus Metrix had expected a 1.2%
increase.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
May 14, 2019 08:37 ET (12:37 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Ralph Lauren (NYSE:RL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Ralph Lauren (NYSE:RL)
Historical Stock Chart
From Sep 2023 to Sep 2024