Ralph Lauren: Fiscal 2Q Earnings Snapshot
NEW YORK (AP) _ Ralph Lauren Corp. (RL) on Tuesday reported fiscal second-quarter profit of $170.3 million.
On a per-share basis, the New York-based company said it had net income of $2.07. Earnings, adjusted for non-recurring costs, came to $2.26 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.
The upscale clothing company posted revenue of $1.69 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.66 billion.
Ralph Lauren shares have climbed 32 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 2 percent. The stock has increased 51 percent in the last 12 months.