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.
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.
- You can view the full analysis from the report here: RL Ratings Report