Ralph Lauren Corp. said its normalized net income for the fiscal first quarter ended June 28 amounted to $1.66 per share, compared with the S&P Capital IQ consensus estimate of $1.75 per share.
EPS decreased year over year from $1.69.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $149.4 million, a decline of 5.2% from $157.5 million in the year-earlier period.
The normalized profit margin declined to 8.8% from 9.5% in the year-earlier period.
Total revenue climbed on an annual basis to $1.71 billion from $1.65 billion, and total operating expenses rose 5.0% from the prior-year period to $1.46 billion from $1.39 billion.
Reported net income declined 10.1% year over year to $162.4 million, or $1.80 per share, from $180.6 million, or $1.94 per share.
