Why Ralph Lauren Stock Is Up 7% Today
Shares of apparel label Ralph Lauren (NYSE: RL) were higher by 6.9% heading into Tuesday's close following a stellar fiscal first-quarter report highlighted by triple-digit sales growth.
For Ralph Lauren's fiscal first quarter ending in June, revenue of $1.38 billion beat the year-earlier top line by 182%. Last year's quarterly operating loss of $168.0 million was reversed with operating income of $220.6 million, easily topping expectations for a per-share profit of $0.88 with actual earnings of $2.29 per share.
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Source Fool.com
