Ralph Lauren Corp. (RL) posted lower second-quarter net income of $214 million, or $2.29 per share, compared with $233 million, or $2.46 per share, in the prior-year quarter. On average, 15 analysts polled by Thomson Reuters expected earnings per share of $2.15 for the quarter. Analysts' estimates typically exclude one-time items. Recent quarter's earnings include the net negative impact of an approximate $15 million one-time discrete tax item, the company added.
Net revenues for the second quarter of fiscal 2013 totaled $1.86 billion, 2% below $1.90 billion last year, chiefly reflecting a planned contraction in wholesale shipments that was partially offset by continued retail segment expansion. Analysts estimated revenues of $1.84 billion for the quarter. Excluding the impact of strategic decisions to discontinue American Living and store closures associated with the company's Greater China network repositioning efforts, further to the net negative impact from foreign currency translation, net revenues went up nearly 3% in the second quarter. Consolidated comparable-store sales advanced 5% in constant currency in the second quarter.
For the third quarter of fiscal 2013, Ralph Lauren sees consolidated net revenues to increase by a low-single-digit percentage, as a mid-single-digit increase in retail revenues is partially offset by a low-single-digit decline in wholesale revenues.
The company expects consolidated net revenues for fiscal 2013 to increase by 2% - 3%, compared with its prior expectation for mid-single-digit consolidated net revenue growth.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.