Polo Ralph Lauren Earnings: Here’s Why the Stock is Dancing Now
Polo Ralph Lauren Corp. (NYSE:RL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 6%.
Polo Ralph Lauren Corp. Earnings Cheat Sheet
Results: Net income increased 27.63% to $215.7 million ($2.31 per diluted share) in the quarter versus a net gain of $169 million in the year-earlier quarter.
Revenue: Decreased 0.86% to $1.79 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Polo Ralph Lauren Corp. reported adjusted net income of $2.31 per share. By that measure, the company beat the mean analyst estimate of $2.19. It missed the average revenue estimate of $1.85 billion.
Quoting Management: “Our third quarter performance is a testament to the enduring appeal of our brand and the dedication of our passionate team,” Ralph Lauren, chairman and CEO, said in a statement. “Our orientation as a design-led, marketing and merchandising organization has enabled us to deepen our connection with our customers, particularly as we expand our portfolio of products and lifestyle sensibilities.”
Key Stats (on next page)…