Why Ralph Lauren Popped Nearly 15% Thursday Morning
Shares of Ralph Lauren (NYSE: RL) -- a global manufacturer of products including apparel, home, footwear, and accessories -- jumped nearly 15% higher Thursday morning after the company delivered better-than-expected second-quarter fiscal 2020 results.
While a long list of retailers faced stock price volatility amid the United States' trade spat with China, it was strong demand from Asia that helped drive strong second-quarter results for Ralph Lauren. Net revenue increased 1% to $1.7 billion, compared to the prior year, a result that topped analysts' estimates of $1.69 billion. Same-store sales rose 1%, which was better than estimates for flat results there. Adjusted earnings per share checked in at $2.55, well ahead of analysts' estimates for $2.39 per share.
Ralph Lauren Rome store. Image source: Ralph Lauren.
Source Fool.com
