Ralph Lauren Corporation (NYSE: RL)
Shares of Ralph Lauren Corporation rocketed during the early morning hours on Wednesday. The gain was sparked off by the company’s strong performance during fourth quarter of 2018 fiscal year.
Ralph Lauren, a global leader in luxury lifestyle products, appears to have excited investors on Wednesday after surpassing every estimate that analysts had pinned on its quarterly earnings and revenue.
At the time of writing, RL stock was exchanging hands at $132.01 after going up $15.40, or 13.21%.
RL Earnings & Outlook
During the quarter, the company posted a net income of $41.3 million, or $0.50 per share. In the same period last year, the company made a loss of $204 million, or $2.48 per share.
Adjusted earnings per share was $0.90 in the quarter ended March 31. Revenue stood at $1.53 billion, compared to the $1.57 billion figure the company reported in the year-ago period.
Analysts expected earnings per share of $0.83 cents on a revenue of $1.49 billion. The North America segment posted a revenue of $759 million during the quarter, which represents a decline of 14%. The company attributed the decline to lower sales in its wholesale channel.
$RL tends to be a good day trading stock so keep this one on your radar. Look for elevated volume and volatility throughout the day and the next few days.
Ralph Lauren CEO Comments
“We delivered on our commitments for the fourth quarter and full year, and we made strong operational progress. We start the new year with a solid foundation – including a clear strategic plan to deliver long-term growth and value creation, an engaged global organization, and a strong balance sheet. We look forward to discussing our plan in more detail at our Investor Day on June 7th,” said Patrice Louvet, Chief Executive Officer of Ralph Lauren.
Ralph Lauren Corp Company Profile
Ralph Lauren Corp designs, distributes and markets lifestyle products internationally. It has three segments of operation namely: Europe, North America, and Asia. The company provides apparel, such as kids’, men’s, and women’s clothing; home products, which comprise bath and bedding products tabletops, fragrances, furniture, wallpapers, fabrics, lightings, and paints; accessories, including watches, belts, footwear, fine jewelry, eyewear, hats, and handbags.
It sells accessories and apparels under Ralph Lauren Purple Label, Club Monaco, Double RL, Chaps, Ralph Lauren Collection, Polo and RLX Golf, Polo Ralph Lauren Children, and Lauren Ralph Lauren, and other brands. The company sells its women’s fragrance products under the Romance Collection, Big Pony Collection, Ralph Lauren Blue, and RALPH collection brand names.
Men fragrances are available under the Polo Blue Sport, Polo Blue, Polo Green, Safari, Polo Sport, Double Black, Purple Label, Big Pony Collection, Polo Black, Polo Supreme Oud, and Polo Red collection brands. In addition, the company has a restaurant concept that includes The Polo Bar, RL Restaurant, Ralphs, and Ralph’s Coffee located in New York, Chicago, Paris and London respectively.
Products of the company are available through its 466 retail stores, e-commerce websites, and 619 concession-based shop-within-shops. Customers can also get the products from golf and pro stores, specialty stores and department stores. Ralph Lauren Corp was established in 1967 and its head offices are located in New York. –Reuters