Ralph Lauren (RL) Stock Declines Today on Lowered Guidance - TheStreet

NEW YORK (TheStreet) -- Shares of Ralph Lauren Corp. (RL) - Get Report are declining by 0.28% to $160.47 in early market trading after the fashion apparel brand lowered its fiscal year 2015 revenue forecast to a range of 5% to 7% from its prior growth estimate of 6% to 8%, following its fiscal second quarter earnings report this morning.

The company said the lowered guidance is a result of negative foreign currency movements.

Ralph Lauren reported fiscal second quarter revenue of $1.994 billion, better than the $1.92 billion from one year ago, but missing the consensus estimate of $2.02 billion.

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The company posted earnings of $2.25 per diluted share for the quarter, higher than the $2.06 per share analysts' expected.

Retail sales grew 7% in the quarter from last year, while wholesale sales and licensing revenue both climbed 2% compared to the same quarter a year ago. 

Separately, TheStreet Ratings team rates RALPH LAUREN CORP as a Buy with a ratings score of B. 

RL data by YCharts

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