Ralph Lauren: Fiscal 3Q Earnings Snapshot
NEW YORK (AP) — Ralph Lauren Corp. (RL) on Tuesday reported fiscal third-quarter net income of $120 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had net income of $1.48 per share. Earnings, adjusted for non-recurring costs, were $2.32 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
The upscale clothing company posted revenue of $1.73 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.67 billion.
Ralph Lauren shares have increased 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 9 percent. The stock has climbed slightly more than 4 percent in the last 12 months.