Ralph Lauren Tops Street 4Q Forecasts

NEW YORK, United States — Ralph Lauren Corp. on Wednesday reported fiscal fourth-quarter profit of $124 million.

On a per-share basis, the New York-based company said it had net income of $1.41.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.

The upscale clothing company posted revenue of $1.89 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.88 billion.

For the year, the company reported profit of $702 million, or $7.88 per share. Revenue was reported as $7.62 billion.

Ralph Lauren shares have decreased 28 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. The stock has dropped almost 10 percent in the last 12 months.