Ralph Lauren (RL) Tops Q2 EPS by 38c

Ralph Lauren (NYSE: RL) reported Q2 EPS of $2.13, $0.38 better than the analyst estimate of $1.75. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.96 billion.

Ralph Lauren reaffirmed FY2016 guidance.

Update On The Global Brand Reorganization

In the first six months since the announcement of the new global brand management organizational structure, the Company has made significant progress with its transition. All six brand Presidents and their leadership teams have been established, and the new global line planning process, which is a significant component of the new structure, has successfully been launched. The Company now expects to achieve approximately $110 million in annual expense savings associated with the restructure.

The Company expects to incur one-time charges of approximately $120-150 million primarily as a result of this reorganization, of which $38 million was recognized in the second quarter and $83 million in the first half of Fiscal 2016.

For earnings history and earnings-related data on Ralph Lauren (RL) click here.

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