This compared to reported net income of $215 million, or $2.41 per diluted share, for the third quarter of Fiscal 2015.

third quarter earnings: “EX-99.1 2 eh1600181_ex9901.htm EXHIBIT 99.1 EXHIBIT 99.1 RALPH LAUREN REPORTS THIRD QUARTER FISCAL 2016 RESULTS — Third Quarter Net Revenues were $1.9 Billion in Constant Currency — Better-Than-Expected Operating Margin of 13.7%, Excluding Restructuring and Other Charges, Reflects Better Expense Management — Earnings Per Diluted Share Was $2.27 in the Third Quarter, Excluding Restructuring and Other Charges — The Company Adjusts Its Fiscal 2016 Outlook NEW YORK--(BUSINESS WIRE)—February 4, 2016-- Ralph Lauren Corporation (NYSE:RL) today 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.”

fourth quarter margin: “Operating margin for the fourth quarter of Fiscal 2016 is expected to be approximately 400-450 basis points below the comparable prior year period, primarily due to proactive action the Company is taking to clear end-of-season inventories related to the sales challenges the Company faced in the third quarter, as well as infrastructure investments and negative foreign exchange impacts.”

fourth quarter sales: “In the fourth quarter of Fiscal 2016, the Company expects consolidated net revenues to be flat to down 2% on a reported basis, and based on current exchange rates, foreign currency will have an approximate 150 basis point negative impact on revenue growth.”