Ralph Lauren (RL) shares climb as Asia leads Q3 sales rise

CFRA Downgrades Ralph Lauren (RL) to Hold

February 8, 2024 10:26 AM EST

CFRA analyst Zachary Warring downgraded Ralph Lauren (NYSE: RL) from Buy to Hold with a price target of $150.00 (from $135.00).

The analyst comments "We raise our 12-month price target by $15 to $150, based on 15.8x our FY 25 (Mar.) EPS estimate and slightly higher than the company's... More

Ralph Lauren rides strong holiday demand, China rebound to post upbeat results

February 8, 2024 8:05 AM EST

By Deborah Mary Sophia

(Reuters) -Ralph Lauren beat profit expectations for the 14th straight quarter on Thursday, driven by robust holiday demand for its pricey cashmere sweaters, coats and cocktail dresses in the U.S. and a rebound in China.

Its shares closed up nearly 17% on Thursday.

Wealthy U.S. shoppers snapped up luxury goods over the holidays, despite economic uncertainty, driving higher sales at Ralph Lauren's own stores and on its online platform. That... More

Ralph Lauren (RL) Tops Q3 EPS by 62c

February 8, 2024 8:03 AM EST

Ralph Lauren (NYSE: RL) reported Q3 EPS of $4.17, $0.62 better than the analyst estimate of $3.55. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.87 billion.

Full Year Fiscal 2024 and Fourth Quarter Outlook:

The Company's outlook is based on its best assessment of the current geopolitical and macroeconomic environment, including inflationary pressures, other consumer spending-related headwinds and foreign currency volatility, among others. The full year Fiscal 2024 and fourth quarter guidance excludes any potential restructuring-related and other net charges that may be incurred in future periods, as... More