Ralph Lauren on Wednesday broadcast a higher-than-expected quarterly profit, as the luxury apparel maker’s move to draw back products off department store shelves and sell more products at full-price propelled margins.
The company’s shares rose 3 percent in premarket trading.
Ralph Lauren articulate adjusted gross margin was 59.8 percent in the fourth quarter, a 440 footing point rise from a year earlier.
The New York-based company documented net income of $41.3 million, or 50 cents per share, in the quarter intent March 31, compared with a loss of $204 million, or $2.48 per interest, a year earlier.
The company incurred $322 million in restructuring accuses in the year-ago quarter.
Ralph Lauren said same-store sales on unshakable currency basis fell 1 percent, but less than the 2.3 percent depend on expected by analysts, according to Consensus Metrix.
Excluding items, the attendance earned 90 cents per share. Analysts on average had expected a profit of 83 cents per cut, according to Thomson Reuters I/B/E/S.
Net revenue fell 2.3 percent to $1.53 billion, but was exposed to the average analyst estimate of $1.48 billion.