Ralph Lauren: posts higher quarterly profit; shares up
(CercleFinance.com) - Ralph Lauren has announced third-quarter results that exceed its overall expectations, with its share up almost 7% in premarket trading on the beat.
The maker of Polo by Ralph Lauren and Club Monaco clothing lines said net income rose to 334.1 dollars, or 4.41 dollars per share, from 120 million, or 1.48 dollar, a year earlier.
The premium lifestyle company said quarterly revenue increased by 1% to 1.8 billion dollars as reported, up 2% at constant currencies, with growth led by Europe and Asia.
CEO Patrice Louvet said revenues, operating margin, and double-digit EPS growth were all better than expected.
For fiscal year 2020, the company expects net revenue growth of 2% to 3% at constant currencies.
It now expects its operating margin to increase in the top of its previous guidance of 40 basis points to 60 basis points at constant currencies.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The maker of Polo by Ralph Lauren and Club Monaco clothing lines said net income rose to 334.1 dollars, or 4.41 dollars per share, from 120 million, or 1.48 dollar, a year earlier.
The premium lifestyle company said quarterly revenue increased by 1% to 1.8 billion dollars as reported, up 2% at constant currencies, with growth led by Europe and Asia.
CEO Patrice Louvet said revenues, operating margin, and double-digit EPS growth were all better than expected.
For fiscal year 2020, the company expects net revenue growth of 2% to 3% at constant currencies.
It now expects its operating margin to increase in the top of its previous guidance of 40 basis points to 60 basis points at constant currencies.
Copyright (c) 2020 CercleFinance.com. All rights reserved.