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Ralph Lauren (RL) 3Q17 Earnings: CEO Departure Announcement Overshadows 3Q Results

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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