Ralph Lauren misses estimates; stock drops

Ralph Lauren on Wednesday reported fiscal third-quarter earnings of $215 million.

The New York-based company said it had net income of $2.41 per share.

Following the report, the company's stock dropped. (Click here to track its shares.)

The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.

The upscale clothing company posted revenue of $2.03 billion in the period, which also fell short of Street forecasts. Analysts expected $2.11 billion, according to Zacks.

Ralph Lauren shares have fallen almost 8 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has risen 11 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research.