Once again Raph Lauren is beatting the market. Net revenue increased for the second quarter of fiscal 2015, a 4% year over year to $1,994 million. The year-over-year growth was primarily driven by improved performance across the company’s retail segment, especially internationally. However, the company’s net revenues fell short of the Zacks Consensus Estimate of $2,024 million.
Overall, in the quarter, retail revenue grew 7% year over year to $1,006 million, while licensing and wholesale revenues increased 2% each to $45 million and $943 million, respectively.
Improvement at the retail segment was mainly driven by double-digit growth in the international markets as well as eCommerce business. Moreover, both on a reported and currency neutral basis, comparable-store sales at the retail division improved 1%. The company’s earnings of $2.25 per share in the quarter surpassed the Zacks Consensus Estimate of $2.05 and rose nearly 1% from the year-ago quarter figure of $2.23 per share.
The Company is maintaining its constant dollar outlook for Fiscal 2015. However, as a result of recent, unfavorable foreign currency movements, the Company now expects consolidated net revenues for Fiscal 2015 to increase by 5%-7% compared to its previous outlook of 6%-8% growth.
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