Ralph Lauren: shares fall despite profit beat
(CercleFinance.com) - Ralph Lauren posted better-than-expected quarterly earnings on Tuesday, driven by strong demand in Asia, but its shares were down about 6% in early trading on Tuesday.
The New York-based premium fashion house today reported earnings per diluted share of 0.39 dollar, excluding restructuring charges, for the fourth quarter, down from 0.50 dollar for the same period a year earlier.
Fourth-quarter revenue slipped 1.5% to 1.5 billion dollars as reported, but rose by 1.2% in constant currency.
The company also announced a 10% increase in its regular quarterly cash dividend, at 0.6875 dollar per share.
However, investors did not feel inspired by these results and unambiguously sold the shares, which fell almost 6% in early-morning trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The New York-based premium fashion house today reported earnings per diluted share of 0.39 dollar, excluding restructuring charges, for the fourth quarter, down from 0.50 dollar for the same period a year earlier.
Fourth-quarter revenue slipped 1.5% to 1.5 billion dollars as reported, but rose by 1.2% in constant currency.
The company also announced a 10% increase in its regular quarterly cash dividend, at 0.6875 dollar per share.
However, investors did not feel inspired by these results and unambiguously sold the shares, which fell almost 6% in early-morning trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.