Ralph Lauren: margins improve, but shares down
(CercleFinance.com) - On Tuesday Ralph Lauren reported quarterly results that were in line with expectations, albeit with a better-than-expected operating margin and double-digit EPS growth.
In the first quarter of its fiscal year 2020, ended 29 June, the US clothing maker's revenue increased by 3% to 1.4 billion dollars.
On an adjusted basis, and excluding charges, its net income was 142 million dollars, or 1.77 dollar per share, compared to 128 million dollars, or 1.54 dollar per diluted share, for the first quarter of fiscal 2019.
Adjusted operating margin expanded 110 basis points over the quarter, the New York-based designer said, driven by disciplined cost management.
For its fiscal year 2020, RL said that it still expects net revenues to increase by 2% to 3%, with its operating margin also set to increase by 40 to 60 basis points at constant currencies.
However, investors were apparently not too pleased by these numbers, with the shares falling by 3.6% in early morning trading on Tuesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In the first quarter of its fiscal year 2020, ended 29 June, the US clothing maker's revenue increased by 3% to 1.4 billion dollars.
On an adjusted basis, and excluding charges, its net income was 142 million dollars, or 1.77 dollar per share, compared to 128 million dollars, or 1.54 dollar per diluted share, for the first quarter of fiscal 2019.
Adjusted operating margin expanded 110 basis points over the quarter, the New York-based designer said, driven by disciplined cost management.
For its fiscal year 2020, RL said that it still expects net revenues to increase by 2% to 3%, with its operating margin also set to increase by 40 to 60 basis points at constant currencies.
However, investors were apparently not too pleased by these numbers, with the shares falling by 3.6% in early morning trading on Tuesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.