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Ralph Lauren fiscal Q2 profit falls YOY

Ralph Lauren Corp. said its normalized net income for the fiscal second quarter ended Sept. 27 came to $1.96 per share, compared with the S&P Capital IQ consensus estimate of $2.05 per share.

In the prior-year period, the per-share result was a profit of $1.97.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $175.0 million, a decrease from $181.3 million in the year-earlier period.

The normalized profit margin fell to 8.8% from 9.5% in the year-earlier period.

Total revenue increased on an annual basis to $1.99 billion from $1.92 billion, and total operating expenses climbed 5.4% on an annual basis to $1.71 billion from $1.62 billion.

Reported net income decreased from the prior-year period to $200.7 million, or $2.25 per share, from $205.6 million, or $2.23 per share.