Ralph Lauren Exceeds Q3 Expectations with Revenue and Earnings Growth
Ralph Lauren Corp. (RL) reported strong financial results for its fiscal third quarter, surpassing Wall Street estimates.
Fiscal Q3 Highlights:
* Net income: $297.4 million
* Earnings per share: $4.66
* Adjusted earnings per share: $4.82
* Revenue: $2.14 billion
The adjusted earnings per share exceeded the consensus estimate of $4.48 provided by six analysts surveyed by Zacks Investment Research. Revenue also outperformed expectations, with analysts projecting $2.01 billion.
Ralph Lauren's strong performance was driven by increased demand for its upscale apparel and accessories. The company noted positive trends across multiple product categories and regions.
The company's shares rose in after-hours trading following the announcement.