Ralph Lauren’s fourth-quarter earnings beat analysts' estimates, but its North American sales experienced a year-over-year decline. The report sent the the clothing brand's shares down -5% Tuesday.
The company reported earnings of $1.07 per share for the quarter, compared to analysts’ expectations of 89 cents per share (based on FactSet poll). The figure marks a +20% climb from the year-ago quarter.
Total revenue of $1.5 billion also came in higher than analysts’ estimates of $1.48 billion. But it had a year-over-year decline of -1.5%. Even as sales from Europe and Asia increased +4% and +6% respectively, North American revenue plunged -7%.
Ralph Lauren hiked its quarterly dividend by +10% to 69 cents per share. The next dividend is scheduled to be paid out on July 12, to shareholders of record on June 28.