Feb 4 (Reuters) - Luxury fashion retailer Ralph Lauren Corp reported a 4.3 percent decline in quarterly sales, hurt by unusually warm weather in North America, lower tourist traffic and a strong dollar.
The company’s shares were down 12.6 percent at $101 in premarket trading on Thursday.
The company’s net income fell to $131 million, or $1.54 per share, in the third quarter ended Dec. 26, from $215 million, or $2.41 per share, a year earlier.
Net revenue fell to $1.95 billion from $2.03 billion, while sales at established stores fell 7 percent. (Reporting by Ramkumar Iyer in Bengaluru; Editing by Maju Samuel)
Our Standards: The Thomson Reuters Trust Principles.