Ralph Lauren: stock soars on interim results
(CercleFinance.com) - The Ralph Lauren stock has started trading soaring over 15% on Wall Street today, based on quarterly results that came in well above estimates.
The US upmarket clothing brand today reported net income of 41.3 million dollars (50 cents per share), against a loss of 204 million dollars (2.48 dollars per share) a year ago. The group's adjusted gross margin came in at 59.8%, up 440 basis points y-o-y.
However, net sales fell - down from 1.565 billion dollars at 1 April 2017 to 1.529 billion dollars at 31 March 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The US upmarket clothing brand today reported net income of 41.3 million dollars (50 cents per share), against a loss of 204 million dollars (2.48 dollars per share) a year ago. The group's adjusted gross margin came in at 59.8%, up 440 basis points y-o-y.
However, net sales fell - down from 1.565 billion dollars at 1 April 2017 to 1.529 billion dollars at 31 March 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.