Ralph Lauren profit dips in Q1
New York -- Ralph Lauren Corp. reported Wednesday that profit for the quarter ended June 29 dipped 6% to $181 million, compared with $193 million in the year-ago period.
Sales edge up 4% in the period, to $1.61 billion, but missed Wall Street’s estimated $1.65 billion in revenue. Same-store sales slipped 1%.
The fashion retailer has issued a cautious sales outlook, projecting a low-single-digit increase in current quarter revenue from last year’s $1.86 billion.