Ralph Lauren stock was heading higher on Tuesday following the release of the company’s earnings report for its fiscal third quarter of 2019.
Ralph Lauren (NYSE:RL) starts off its earnings report for its fiscal third quarter of 2019 with earnings per share of $2.32. This is an increase over its earnings per share of $2.03 from its fiscal third quarter of 2018. It is also a blessing to Ralph Lauren stock by coming in above Wall Street’s earnings per share estimate of $2.14 for the period.
Ralph Lauren earnings for its fiscal third quarter of the year also include net income of $120.00 million. This is an improvement over the company’s net loss of $81.80 million reported during the same time last year.
Operating income in the Ralph Lauren earnings report for its fiscal third quarter of 2019 came in at $193.80 million. The clothing and fashion accessory retailer’s operating income from its fiscal third quarter of the previous year was $189.20 million.
The most recent Ralph Lauren earnings also has it reporting revenue of $1.73 billion. This is better than the company’s revenue of $1.64 billion reported in the same period of the year prior. It was also a boon to Ralph Lauren stock by beating out analysts’ revenue estimate of $1.66 billion for the quarter.
Ralph Lauren also took time in its earnings report to provide an outlook update. The company says that it is expecting constant currency revenue for its fiscal fourth quarter of 2019 to be down slightly. It says this is due to “planned reduction in off-price sales.”
RL stock was up 8% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.