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Ralph Lauren fiscal Q2 profit falls 8.5% YOY

Ralph Lauren Corp. said its normalized net income for the fiscal second quarter ended Sept. 26 came to $1.87 per share, compared with the S&P Capital IQ consensus estimate of $1.74 per share.

EPS decreased 5.1% year over year from $1.97.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $160.6 million, a decrease of 8.5% from $175.6 million in the year-earlier period.

The normalized profit margin declined to 8.2% from 8.8% in the year-earlier period.

Total revenue fell year over year to $1.97 billion from $1.99 billion, and total operating expenses came to $1.70 billion, compared with $1.71 billion in the prior-year period.

Reported net income fell 20.3% on an annual basis to $160.0 million, or $1.86 per share, from $200.7 million, or $2.25 per share.