Ralph Lauren beats quarterly revenue estimates - Southern Business Review

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Tuesday, February 5, 2019

Ralph Lauren beats quarterly revenue estimates

Feb 5 (Reuters) - Ralph Lauren reported holiday-quarter revenue on Tuesday that topped Wall Street estimates, as the luxury fashion group’s bigger push on marketing helped it woo more customers.


The company’s revenue rose to $1.73 billion from $1.64 billion, beating analysts’ average estimate of $1.66 billion, according to IBES data from Refinitiv.


The company reported net income of $120 million, or $1.48 per share, in the third quarter ended Dec. 29, compared with a loss of $81.8 million, or $1.00 per share, a year earlier when it incurred charges related to changes in U.S. tax laws. (Reporting by Uday Sampath in Bengaluru Editing by Saumyadeb Chakrabarty)