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Reported EPS tanks at Ralph Lauren in Q2FY17
11 Aug '16
2 min read
Ralph Lauren posted a massive loss in the first fiscal quarter ended July 2, 2016, when it clocked reported loss per diluted share at $0.27 as against reported earnings per diluted share of $0.73 in the fiscal ago period.
However, excluding restructuring and other related charges, on adjusted basis, earnings per diluted share was $1.06 in the three months ended July 2, 2016 as against $1.09 in the three months ended June 27, 2015.
Net revenues at the US based fashion lifestyle brand for the first quarter of fiscal 2017 declined 4 per cent year over year to $1.6 billion, which the company said was in line with the June 2016 guidance.
On an adjusted basis, gross profit amounted to $949 million with gross profit margin at 61.1 per cent, 130 basis points above what the company posted in the prior fiscal's first quarter.
“The increase in gross margin was primarily driven by a favourable sales mix shifts, lower product costs and an improvement in Asia driven by initiatives to improve quality of sale metrics,” Ralph Lauren said.
For the quarter under review, on an adjusted basis, operating expenses were $821 million and operating expense rate was 52.9 per cent, but 180 basis points above last fiscal's same quarter. (AR)
However, excluding restructuring and other related charges, on adjusted basis, earnings per diluted share was $1.06 in the three months ended July 2, 2016 as against $1.09 in the three months ended June 27, 2015.
Net revenues at the US based fashion lifestyle brand for the first quarter of fiscal 2017 declined 4 per cent year over year to $1.6 billion, which the company said was in line with the June 2016 guidance.
On an adjusted basis, gross profit amounted to $949 million with gross profit margin at 61.1 per cent, 130 basis points above what the company posted in the prior fiscal's first quarter.
“The increase in gross margin was primarily driven by a favourable sales mix shifts, lower product costs and an improvement in Asia driven by initiatives to improve quality of sale metrics,” Ralph Lauren said.
For the quarter under review, on an adjusted basis, operating expenses were $821 million and operating expense rate was 52.9 per cent, but 180 basis points above last fiscal's same quarter. (AR)
Fibre2fashion News Desk - India
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