Ralph Lauren: FY20 Operating Margin Growth To Be At High End Of Guidance

(RTTNews) - Ralph Lauren Corp. (RL) announced, for fiscal 2020, the company now expects operating margin expansion to be at the high end of its prior guidance of 40 to 60 basis points in constant currency. Net revenue growth is anticipated in the range of 2% to 3% on a constant currency basis.

For the fourth quarter, Ralph Lauren projects operating margin to be up slightly on both a constant currency and reported basis. Net revenue is expected to be up slightly on both a constant currency and reported basis.

For the third-quarter, earnings per share was $2.86 on an adjusted basis, compared to $2.32, a year ago. Adjusted operating margins expanded 10 basis points, for the quarter. Revenue increased by 1% to $1.8 billion on a reported basis and was up 2% in constant currency.