Ralph Lauren reports decline in Q3 sales and earnings

Ralph Lauren Corporation reported earnings per diluted share of 1.61 dollars on a reported basis and 1.67 dollars on an adjusted basis, for the third quarter of fiscal 2021 compared to earnings per diluted share of 4.41 dollars on a reported basis and 2.86 dollars on an adjusted basis, for the same quarter of fiscal 2020. Net revenue decreased by 18 percent to 1.4 billion dollars on a reported basis and was down 20 percent in constant currency. The company said, foreign currency favourably impacted revenue growth by approximately 170 basis points in the third quarter.