Ralph Lauren Falls After Currency Woes Weigh on Its Forecast

Ralph Lauren Corp., the upscale apparel company known for Polo and other brands, fell the most since it began trading more than 17 years ago after third-quarter earnings trailed analysts’ estimates and the company cut its sales forecast.

Net income dropped 9.3 percent to $215 million, or $2.41 a share, from about $237 million, or $2.57, a year earlier, the New York-based company said Wednesday in a statement. The average of analysts’ estimates compiled by Bloomberg was $2.50. The company said revenue may gain about 4 percent this year, down from a previous projection of as much as 7 percent.