Ralph Lauren beats by $0.05, reports revs in-line :
- Reports Q4 (Mar) earnings of $0.88 per share, $0.05 better than the Capital IQ Consensus of $0.83; revenues fell 0.7% year/year to $1.87 bln vs the $1.86 bln Capital IQ Consensus. The decline in reported net revenues was in line with the guidance provided in February of a 0-2% reported revenue decline and included ~110 basis points of negative impact from foreign currency effects. In constant currency, international net revenue rose 3% in the fourth quarter, offset by a 1% decline in the Americas that was due to proactive measures taken in the U.S. to clear end-of-season inventories related to the Fall season.
- In Q4, wholesale segment sales decreased 5% on a constant currency basis and 6% on a reported basis to $942 million, primarily due to a decline in sales in North America.
- Retail segment sales increased 7% on a constant currency basis and 6% on a reported basis to $889 million in the fourth quarter, driven by the benefit of a 53rd week of sales, new store expansion and e-commerce growth. On a 13-week to 13-week basis, consolidated comparable store sales decreased 5% in constant currency and 6% as reported during the fourth quarter.
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