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Ralph Lauren fiscal Q4 profit falls 17.6% YOY

Ralph Lauren Corp. said its normalized net income for the fiscal fourth quarter ended March 28 amounted to $1.30 per share, compared with the S&P Capital IQ consensus estimate of $1.31 per share.

EPS fell 15.0% year over year from $1.53.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $114.4 million, a decrease of 17.6% from $138.8 million in the year-earlier period.

The normalized profit margin declined to 6.0% from 7.4% in the year-earlier period.

Total revenue came to $1.89 billion, compared with $1.87 billion in the year-earlier period, and total operating expenses increased on an annual basis to $1.69 billion from $1.64 billion.

Reported net income fell 18.9% year over year to $123.9 million, or $1.41 per share, from $152.8 million, or $1.68 per share.

For the year, the company's normalized net income totaled $7.04 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $7.79.

EPS declined 5.4% from $7.45 in the prior year.

Normalized net income was $627.5 million, a decline of 8.4% from $685.0 million in the prior year.

Full-year total revenue grew year over year to $7.62 billion from $7.45 billion, and total operating expenses increased year over year to $6.57 billion from $6.32 billion.

The company said reported net income fell 9.5% on an annual basis to $702.1 million, or $7.88 per share, in the full year, from $775.6 million, or $8.43 per share.