Ralph Lauren Corp. (RL) Tops Q2 EPS by 19c

Ralph Lauren Corp. (NYSE: RL) reported Q2 EPS of $2.25, $0.19 better than the analyst estimate of $2.06. Revenue for the quarter came in at $2 billion versus the consensus estimate of $2.02 billion.

Fiscal 2015 Outlook

The Company is maintaining its constant dollar outlook for Fiscal 2015. However, as a result of recent, unfavorable foreign currency movements, the Company now expects consolidated net revenues for Fiscal 2015 to increase by 5%-7% compared to its previous outlook of 6%-8% growth. The Fiscal 2015 operating margin is still estimated to be approximately 75-125 basis points below Fiscal 2014’s level, likely at the mid-to-low end of that range due to incrementally negative foreign currency movements. The full year Fiscal 2015 tax rate is estimated at 30%.

In the third quarter of Fiscal 2015, the Company expects consolidated net revenues to increase by 3%-5%, including a 200 basis point net negative impact from foreign currency translation. Operating margin for the third quarter of Fiscal 2015 is expected to be approximately 100-150 basis points below the comparable prior year period due to higher cost of goods and incremental investments in the Company’s strategic growth objectives. The third quarter tax rate is estimated at 30%.

For earnings history and earnings-related data on Ralph Lauren Corp. (RL) click here.

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