Ralph Lauren Corp (RL) reported quarterly earnings results on Wednesday, Aug-10-2016. The company said it had a profit of $1.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.17. Analysts had a consensus of $0.89. The company posted revenue of $1552.00 million in the period, compared to analysts expectations of $1526.58 million. The company’s revenue was down -4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS.
Many Wall Street Analysts have commented on Ralph Lauren Corp. Shares were Reiterated by Telsey Advisory Group on Jun 8, 2016 to “Outperform” and Lowered the Price Target to $ 105 from a previous price target of $110 .Ralph Lauren Corp was Upgraded by BofA/Merrill to ” Neutral” on Jun 8, 2016. Ralph Lauren Corp was Downgraded by Miller Tabak to ” Hold” on Jun 8, 2016.
Ralph Lauren Corp closed down -0.09 points or -0.09% at $95.96 with 7,33,696 shares getting traded on Monday. Post opening the session at $96.32, the shares hit an intraday low of $95.2942 and an intraday high of $97.75 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 17, 2016, David R. Lauren (EVP, Advert., Mktg., & Comm.) sold 4,668 shares at $93.71 per share price. According to the SEC, on Jun 14, 2016, Joel Lawrence Fleishman (director) sold 811 shares at $95.91 per share price. On Mar 7, 2016, Arnold H Aronson (director) sold 2,389 shares at $96.75 per share price, according to the Form-4 filing with the securities and exchange commission.
Ralph Lauren Corporation is engaged in the design marketing and distribution of lifestyle products including apparel accessories home furnishings and other licensed product categories. The Company operates in three segments: Wholesale Retail and Licensing. Wholesale business representing approximately 46% of net revenues as of fiscal year ended March 28 2015 (Fiscal 2015) consists of sales made to department stores and specialty stores around the world. Retail business consists of sales made directly to consumers through retail channel which includes Company’s retail stores concession-based shop-within-shops and e-commerce operations around the world. Licensing business consists of royalty-based arrangements under which the Company license to unrelated third parties for specified periods the right to operate retail stores and/or to use its various trademarks in connection with the manufacture and sale of designated products such as certain apparel eyewear and fragrances.