Ralph Lauren Stock Hits All-Time High on Strong Holiday Sales, Earnings | Global News Avenue

Ralph Lauren Corporation was one of the biggest gains in the S&P 500 as the company’s third-quarter results were better than expected, with shares rising to a record Thursday on Thursday.

Ralph Lauren (RL) said Thursday that the holiday shopping season was more productive than expected, with sales rising to $2.14 billion year-on-year, higher than analysts’ expectations of $2.01 billion. Comparable store sales have increased by 12% since the same period last year, well above the growth rate of 5% analysts expect.

Adjusted net income for premium clothing retailers also reached $307.9 million, up from $275.1 million a year ago, and the visible Alpha aggregates a consensus estimate of $286 million.

Ralph Lauren said in the fourth quarter and full fiscal year that revenue is expected to grow about 6% to 7%, up from the company’s top 3% to 4% in fiscal 2024. Analysts above estimate that the estimate expects revenue to grow by more than 3% in the quarter and full year.

Ralph Lauren CEO Patrice Louvet said the company’s performance during the holiday quarter “encourages” the company and “continues to focus” on driving sustained growth.

Ralph Lauren shares rise 13% Thursday, an intraday record of $289.33 earlier in the day, now up about 90% in the past 12 months.