Executive Summary
- Ralph Lauren reported 3Q17 adjusted EPS of $1.86, beating the consensus estimate of $1.64. Revenues decreased by 12%, to $1.71 billion from $1.95 billion in the year-ago period, and were in line with guidance.
- Coinciding with its earnings release, the company announced that CEO Stefan Larsson would depart May 1, 2017.
- The company maintained its full-year guidance. Consolidated net revenue is expected to decrease at a low-double-digit rate, consistent with the company’s Way Forward plan. Ralph Lauren continues to expect an operating margin of approximately 10% for the full fiscal year.
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