Ralph Lauren Corp (NYSE:RL) insider has recently participated in insider trading activity. Director, ARONSON ARNOLD H sold 1,000 shares for $89,000 via one transaction Feb 16. Another notable insider trading was done by FLEISHMAN JOEL LAWRENCE on Feb 05, who is the Director. The insider Sold 3,410 shares at an average price of $88.86. Moreover, an insider selling of 50,000 shares was carried out by LAUREN RALPH, Ex. Chair, Chief Creative Off., on Dec 21. Following the transaction, the insider now owns 451,914 shares in total. President, Global Brands Peterson Christopher H sold 3,016 shares for $411,322 through one transaction Nov 06. Following this sale, this insider’s stake in the company comprises 1,508 shares, priced at $133955.64 as of Thursday.
The stock has experienced a total of 5 insider trades in the past three months. These trades include 4 sell activities and 1 buy trades. Furthermore, over the past 12 months, the stock was traded 47 times by insiders. In 27 of these trades, the insider was a seller while an employee of the company was the buyer in just 20 instances.
Ralph Lauren Corp (RL) on February 4, 2016 reported net income of $193 million, or $2.27 per diluted share, for the third quarter of Fiscal 2016, which excludes restructuring and other charges that are primarily related to activities associated with the Company’s global brand reorganization and a pending customs audit. This compared to reported net income of $215 million, or $2.41 per diluted share, for the third quarter of Fiscal 2015. Earnings per diluted share increased 4% from the prior year period, excluding foreign currency impacts and restructuring and other charges. On a reported basis, net income was $131 million or $1.54 per diluted share in the third quarter of Fiscal 2016.
“2015 was a year of transition,” said Ralph Lauren, Executive Chairman and Chief Creative Officer. “While our recent results have been disappointing, I am greatly encouraged by the changes that are already taking place since the appointment of Stefan Larsson as our new CEO. He has my full support as he conducts his comprehensive review of our business and takes the lead to move us forward. We have built one of the strongest global brands in the industry and our goal is to further strengthen the brand, drive strong financial performance and deliver shareholder value.”
Third Quarter Fiscal 2016 Income Statement Review
- Net Revenues. Net revenues for the third quarter of Fiscal 2016 declined 1% on a constant currency basis and 4% on a reported basis to $1.9 billion. This was below the guidance provided in November of 0%-2% reported revenue growth. While international net revenue grew 6% in constant currency in the third quarter, North America revenue declined 4% primarily due to above-average temperatures for most of the Fall and Holiday period, a decline in foreign tourist traffic and product assortment challenges in the Lauren brand. The decline in reported net revenues included approximately 300 basis points of negative impact from foreign currency effects.
- Wholesale Sales. In the third quarter of Fiscal 2016, wholesale segment sales decreased 3% on a constant currency basis as a decline in sales in North America offset increased sales in Europe. Reported wholesale segment sales declined 6% to $786 million.
- Retail Sales. Retail sales were in line with the prior year on a constant currency basis in the third quarter as growth in new stores and e-commerce was offset by negative comparable store sales. Reported retail segment sales declined 3% to $1.1 billion. Consolidated comparable store sales decreased 5% on a constant currency basis during the third quarter and declined 7% on a reported basis.
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