Ralph Lauren’s Earnings Rise Dramtaically in Q2

WASHINGTON (MarketWatch) — Ralph Lauren Corp. RL -6.92%  said Wednesday its fiscal second-quarter earnings rose to $233.5 million, or $2.46 a share, from $205.2 million, or $2.09 a share, in the year-ago period. Sales rose to $1.86 billion from $1.49 billion. Analysts surveyed by FactSet Research were looking for earnings of $2.24 a share, on average, with sales of $1.84 billion. For the third quarter, the New York apparel company predicted consolidated revenues to increase at a low-teens rate when compared to the year-ago period. For the full year, Ralph Lauren raised its outlook for consolidated revenue to increase at a high-teens-to-low-20% rate, which compared to a prior view of mid-to-high-teens growth. Shares of Ralph Lauren fell 5% premarket to $151.

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