NEW YORK, May 18 — Ralph Lauren Corp reported a better-than-expected quarterly profit today, as the luxury apparel maker reined in discounts and cut inventories in a bid to boost margins.

Shares of the company rose 5 per cent in trading before the bell today.

Ralph Lauren reported a net loss of US$204 million (RM884.3 million), or US$2.48 per share in the fourth quarter ended April 1, reflecting a more than US$300 million charge related to restructuring and severance pay.

The company posted a net income of US$41.3 million, or 49 cents per share, a year earlier.

Excluding items, Ralph Lauren reported a profit of 89 cents per share, beating analysts’ average expectation by 11 cents, according to Thomson Reuters I/B/E/S.

Revenue fell 16.3 per cent to US$1.57 billion in the fourth quarter. — Reuters