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Ralph Lauren (RL) Beats Q3 Earnings Estimates, Sales Miss
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Ralph Lauren Corporation (RL - Free Report) , a designer, marketer and distributor of lifestyle products, released third-quarter fiscal 2018 results, wherein adjusted earnings of $2.03 came ahead of the Zacks Consensus Estimate of $1.87, and climbed 9.1% from $1.86 earned in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has increased by two cents in the last seven days. Moreover, Ralph Lauren’s performance over the trailing four quarters, excluding the quarter under review, remains encouraging with an average beat of 11.6%.
Ralph Lauren Corporation Price, Consensus and EPS Surprise
Revenues: Ralph Lauren’s net revenues dropped 4.2% to $1,641.8 million and also missed the Zacks Consensus Estimate of $1,648 million. On a currency neutral basis, revenues fell 6%. Revenue decline was attributable to the exit of brand, promotional activity and soft consumer demand.
Outlook: The company continues to project currency neutral net revenues to decline 8–9% in fiscal 2018. For fourth-quarter fiscal 2018, management envisions currency neutral net revenue to decrease 8-10%. Foreign currency is estimated to favorably impact the top line growth by nearly 330 basis points (bps) and 100 bps in the fourth quarter and the fiscal, respectively.
Stock Movement: Ralph Lauren’s shares are down nearly 7.3% during pre-market trading hours following the earnings release.
Check back later for our full write up on Ralph Lauren’s earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Ralph Lauren (RL) Beats Q3 Earnings Estimates, Sales Miss
Ralph Lauren Corporation (RL - Free Report) , a designer, marketer and distributor of lifestyle products, released third-quarter fiscal 2018 results, wherein adjusted earnings of $2.03 came ahead of the Zacks Consensus Estimate of $1.87, and climbed 9.1% from $1.86 earned in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has increased by two cents in the last seven days. Moreover, Ralph Lauren’s performance over the trailing four quarters, excluding the quarter under review, remains encouraging with an average beat of 11.6%.
Ralph Lauren Corporation Price, Consensus and EPS Surprise
Ralph Lauren Corporation Price, Consensus and EPS Surprise | Ralph Lauren Corporation Quote
Revenues: Ralph Lauren’s net revenues dropped 4.2% to $1,641.8 million and also missed the Zacks Consensus Estimate of $1,648 million. On a currency neutral basis, revenues fell 6%. Revenue decline was attributable to the exit of brand, promotional activity and soft consumer demand.
Outlook: The company continues to project currency neutral net revenues to decline 8–9% in fiscal 2018. For fourth-quarter fiscal 2018, management envisions currency neutral net revenue to decrease 8-10%. Foreign currency is estimated to favorably impact the top line growth by nearly 330 basis points (bps) and 100 bps in the fourth quarter and the fiscal, respectively.
Zacks Rank: Currently, Ralph Lauren carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Ralph Lauren’s shares are down nearly 7.3% during pre-market trading hours following the earnings release.
Check back later for our full write up on Ralph Lauren’s earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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