Apparel company, Ralph Lauren Corp(RL) reported increased profits for its third quarter, beating estimates on Wednesday.
The New York, NY based company reported third quarter new income of $215.7 million, or $2.31 per share, up 21% from $169 million, or $1.78 last year. Excluding special items, earnings were $224 million, or $2.40 per share, beating analysts estimate of $2.19 per share.
Revenue for the quarter came in at $1.85 billion, up 2% from $1.81 billion last year. Analysts estimated revenue of $1.85 billion.
Looking forward, the company sees FY2013 revenue to see growth in the mid-single digit percentage, resulting from a 8-11% increase in retail revenue.
Ralph Lauren shares were up $12.37, or 7.50% during Wednesday morning trading. The stock has increased 13% in the past year.
The Bottom Line
Shares of Ralph Lauren Corp(RL) have a 0.91% yield, based on Wednesday morning’s price of $174.97
Ralph Lauren Corp(RL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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