(Reuters) - Ralph Lauren Corp (N:RL) reported a 9.3 percent drop in quarterly profit, hurt by a stronger dollar and lower-than-expected sales, sending its shares down 9.7 percent in premarket trading.
The luxury fashion house said net income fell to $215 million, or $2.41 per share, in the third quarter ended Dec. 27, from $237 million, or $2.57 per share, a year earlier.
Net revenue rose 0.9 percent to $2.03 billion.