CONNECT WITH US
eCommerce

eCommerce

Ralph Lauren Tops Forecasts in Q2 and Raises its Outlook

WWD logo

Published on

Add as a preferred source on Google
Ralph Lauren Tops Forecasts in Q2 and Raises its Outlook

While Europe is in a tough spot, the brand continues to grow around the world and in its many product categories.

Ralph Lauren Corp. is continuing on its growth track — beating top and bottom line forecasts in its second quarter and boosting its outlook for the year.

Net income rose 43 percent to $296.6 million, or $4.87 a diluted share. Adjusted EPS hit $4.64, coming in 38 cents ahead of the $4.26 analysts forecast, according to Yahoo Finance.

Revenues for the quarter ended Sept. 26 rose 9 percent to $2.2 billion, stronger than the 5.8 percent increase Wall Street had penciled in.

In constant currencies, the second-quarter top line rose 10 percent and was made up gains in each region, including:

The company has grown more cautious in the near term on the European market even as the growth outlook overall continues to rise.

Investors too are being more cautious as well and traded shares of Ralph Lauren down 8.3 percent to $378 in premarket trading.

Some give and take with Wall Street is natural and the company closed Wednesday with a market capitalization of $24.6 billion — one of the best in the industry.

In an interview with WWD, Patrice Louvet, president and chief executive officer, had his eyes focused on a future where he sees as plenty of market share growth.

“Our reset is fundamentally complete,” said Louvet, who became CEO of the company nine years ago.

“Wholesale pullback, offprice pullback, promotional activity pullback, elevation of the brand, elevation of the customer base,” he said, ticking off the brand’s accomplishments.


Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.