Ralph Lauren stock jumps 10% after earnings beat

Published: Nov 7, 2019 8:12 a.m. ET

Share
Print icon
Author photo

By

Reporter

Ralph Lauren Corp. RL, +0.21% stock jumped 10% in Thursday premarket trading after the luxury fashion house reported fiscal second-quarter earnings and revenue that beat expectations. Net income totaled $182.1 million, or $2.34 per share, up from $170.3 million, or $2.07 per share, in 2018. Adjusted EPS was $2.55, ahead of the $2.39 FactSet guidance. Revenue was $1.71 billion, up from $1.69 billion last year and ahead of the $1.69 billion FactSet consensus. Same-store sales in North America rose 2%, same-store sales in Europe were up 3% and in Asia, same-store sales grew 1%. The FactSet consensus was for flat same-store sales in North America, 2% growth in Europe and 5% growth in Asia. Ralph Lauren stock is up 6% for the last three months but is down nearly 21% over the last year. The S&P 500 index SPX, -0.20% is up 9.3% for the past 12 months.