Ralph Lauren Q3 Profit Declines - Quick Facts

(RTTNews) - Apparel maker Ralph Lauren Corp. (RL) said it has earned $215 million, or $2.41 per share of profit, for the third quarter of fiscal 2015, compared with $237 million, or $2.57 per share, reported a year back. On average, 20 analysts polled by Thomson Reuters expected the company to report earnings of $2.50 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter increased 1% year-on-year to $2.03 billion from $2.02 billion, while 16 analysts estimated revenues of $2.09 billion.

For the fourth quarter of fiscal 2015, the company expects consolidated net revenues to increase at a mid-single digit rate in constant currency. Based on current rates, the net negative impact from foreign currency translation is estimated at approximately 550 basis points.

The company is adjusting its outlook for Fiscal 2015. The company now expects consolidated net revenues for Fiscal 2015 to increase by approximately 4% in constant currency. Based on current rates, the net negative impact from foreign currency translation is estimated at approximately 200 basis points. The revised revenue outlook compares to the company's previous expectation of 5%-7% growth.

Further, the company also announced that its Board of Directors declared an 11% increase in the regular quarterly cash dividend on the Company's Common Stock. The new quarterly cash dividend of $0.50 per share is payable on April 10, 2015 to shareholders of record at the close of business on March 27, 2015.