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Ralph Lauren shares down on dim earnings, outlook

2016-02-05 11:33:16| Apparel - Topix.net

Shares in Ralph Lauren fell more than 22 percent to a multiyear low Thursday after the company cut its outlook for 2016 and reported disappointing earnings it blamed on unseasonably warm holiday weather and a drop in foreign tourist traffic in North America. The New York-based upscale clothing company reported net income of $131 million, or $1.54 per share, for the fiscal third quarter ended Dec. 26, down 39 percent from $215 million, or $2.41 per share, for the same period a year earlier.

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