Ralph Lauren (NYSE:RL) headquartered in New York, announced net loss for the third quarter of $ 81.8 million or $ 1 per share, compared to income $ 81.30 million or $ 0.98 per share for the year-ago quarter.
The company recorded third quarter adjusted net income of $ 167.40 million or $ 2.03 per share, while analysts from Thomson Reuters expected income of $ 1.87 per share.
Top line figures for the third quarter decreased 4% to $ 1.64 billion from $ 1.71 billion in the same quarter last year, where as analysts anticipated $ 1.63 billion.
Patrice Louvet, President and CEO, commented, Focused execution on our key initiatives, especially during the important holiday period, delivered better-than-expected results for the third quarter as we drove lower discounting and better quality of sales overall. There is still a lot of work to be done to return to industry-leading revenue and earnings growth, but these results give us confidence that we are on the right track
For the nine months period, RL disclosed net loss of $ 121.50 million or $ 1.47 per share from the net revenue of $ 4.65 billion.
At the same time, Ralph Lauren recorded nine months adjusted earnings of $ 422.60 million or $ 5.12 per share.