Ralph Lauren beats 3Q profit forecasts

Ralph Lauren Corp (NYSE:RL) has declined 12.69% since June 30, 2015 and is downtrending.

Shares of the apparel designer dropped more than 20% Thursday to about $90 a share after reporting quarterly revenue of $1.9 billion, which missed expectations by 4%, says S&P Capital IQ.

Ralph Lauren last year restructured its operations to be organized by brands rather than products in an effort to save $100 million a year.

Looking ahead for fiscal 2016, the company expects consolidated net revenues for 2016 to be down approximately 3% on a reported basis and up approximately 1% in constant currency. If this ratio is higher, it implies that the firm holds vast potential to record tremendous growth in the coming quarters when compared to other firms functioning in the same industry.

The company expects a decline in sales in 2016, lowering its guidance for fiscal year 2016 by 3 percent on a reported basis.

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Ralph Lauren isn’t the only one having trouble.

Ralph Lauren Corp.’s stock is feeling the pressure, down more than 17 percent in early morning trading, after the lifestyle brand reported lower sales and profit in the third quarter. Finally, TD Asset Management Inc. raised its position in Ralph Lauren Corp by 0.7% in the fourth quarter. They now have a “positive” rating on the stock. The company has a market cap of $8.22 billion.

12/7/2015 – Ralph Lauren Corp was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. This is a boost from Ralph Lauren Corp’s previous quarterly dividend of $0.40. Kosh Mitchell Alan sold 6,700 shares worth $918,436.

During a conference call with analysts, Stefan Larsson, the company’s recently-appointed CEO, said Ralph Lauren will undertake a review of all aspects of the business. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The disclosure for this sale can be found here. Its segments include Wholesale, Retail, and Licensing.