Ralph Lauren: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ Ralph Lauren Corp. (RL) on Tuesday reported fiscal first-quarter earnings of $109 million.
On a per-share basis, the New York-based company said it had net income of $1.31. Earnings, adjusted for restructuring costs, were $1.54 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.
The upscale clothing company posted revenue of $1.39 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $1.36 billion.
Ralph Lauren shares have risen 31 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 5 percent. The stock has climbed 81 percent in the last 12 months.