Pursuits
Ralph Lauren Profit Tops Estimates Amid Reorganization
- Board authorizes additional $200 million in share buybacks
- New CEO Stefan Larsson is working to revive sales growth
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Ralph Lauren Corp. posted fourth-quarter profit that exceeded analysts’ estimates as the company revamps its operations to reignite sales growth.
Earnings were 88 cents a share, excluding some items, in the period ended April 2, the New York-based company said in a statement Thursday. Analysts projected 83 cents, on average. While revenue fell 0.7 percent to $1.87 billion, that topped analysts’ $1.86 billion average estimate.