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Ralph Lauren profit misses consensus by 15.1% in fiscal Q3

Ralph Lauren Corp. said its normalized net income for the fiscal third quarter ended Dec. 27, 2014, amounted to $2.12 per share, compared with the S&P Capital IQ consensus estimate of $2.50 per share.

EPS decreased 5.0% year over year from $2.23.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $188.8 million, a decline of 7.9% from $205.0 million in the year-earlier period.

The normalized profit margin declined to 9.3% from 10.2% in the year-earlier period.

Total revenue totaled $2.03 billion, compared with $2.02 billion in the prior-year period, and total operating expenses rose year over year to $1.72 billion from $1.68 billion.

Reported net income decreased 9.1% on an annual basis to $214.5 million, or $2.41 per share, from $235.9 million, or $2.57 per share.