Q2FY17 net revenues down 8% at Ralph Lauren
November 12, 2016 - United States Of America
In the three months ended October 1, 2016, net revenues declined 8 per cent year over year to $1.8 billion at fashion marketer Ralph Lauren on both, a reported and constant currency basis. International net revenue increased 2 per cent in the second quarter of fiscal 2017, offset by a 12 per cent drop in North America on a reported basis.
In the reporting quarter, gross profit on a reporting basis amounted to $954 million, which includes $81 million in non-cash inventory-related charges.
Operating income in the period under review stood at $76 million, while operating margin was 4.2 per cent, also on a reported basis.
Net income on a reported basis drove down steeply to $45 million or $0.55 per diluted share in the second quarter of Fiscal 2017, as against net income of $160 million, or $1.86 per diluted share in the prior fiscal’s second quarter. (AR)