Ralph Lauren Reports Higher Profit; Beats Estimates (RL)
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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