May 18 Ralph Lauren Corp reported a
better-than-expected quarterly profit on Thursday, as the luxury
apparel maker reined in discounts and cut inventories in a bid
to boost margins.
Shares of the company rose 5 percent in trading before the
bell on Thursday.
Ralph Lauren reported a net loss of $204 million, or $2.48
per share in the fourth quarter ended April 1, reflecting a more
than $300 million charge related to restructuring and severance
The company posted a net income of $41.3 million, or 49
cents per share, a year earlier.
Excluding items, Ralph Lauren reported a profit of 89 cents
per share, beating analysts' average expectation by 11 cents,
according to Thomson Reuters I/B/E/S.
Revenue fell 16.3 percent to $1.57 billion in the fourth
(Reporting by Gayathree Ganesan in Bengaluru; Editing by Sai