Ralph Lauren Poised to Enter Fiscal 2019 on More Solid Footing, but Shares Far From a Bargain
We see little to warrant a material change in our $94 fair value estimate for narrow-moat Ralph Lauren, with fiscal 2018 results (organic revenue down at a high-single-digit rate and adjusted operating margin improving 20 basis points) and a fiscal 2019 outlook (low-single-digit constant-currency sales decline and moderate operating margin gains) that generally aligned with our expectations. We don’t intend to alter our long-term forecast for relatively constant top-line performance on an organi...Ralph Lauren designs, markets, and distributes lifestyle products, including apparel, accessories, home furnishings, and other licensed product categories. The company's brand names include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, Chaps, and Club Monaco, among others. The company sells directly to customers via its retail stores, concession-based shop-within-shops, and through its own digital commerce sites; while its international licensing partners operated Ralph Lauren stores, Ralph Lauren concession shops, and Club Monaco stores and shops. The company has three segments: North America ; Europe; and Asia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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