By Denny Jacob
Ralph Lauren posted higher-than-expected revenue in its latest quarter as broad growth during the holiday season boosted its performance.
The luxury apparel and accessories company reported net income of $297.4 million, or $4.66 a share, for the third quarter ended Dec. 28, up from $276.6 million, or $4.19 a share, a year earlier.
Stripping out certain one-time items, earnings came in at $4.82 a share. Analysts polled by FactSet expected $4.53 a share in adjusted earnings.
Revenue rose to $2.14 billion from $1.93 billion. Analysts expected $2.01 billion.
Top-line growth was supported by increases across North America, Europe and Asia.
Ralph Lauren forecast fourth-quarter revenue on a constant currency basis to grow between 6% and 7%.
For 2025, Ralph Lauren now expects constant-currency revenue to increase between 6% and 7%, compared with its prior outlook of an increase between 3% to 4%.
Shares jumped 12% to $279.73 in premarket trading.
Tapestry also saw its stock rally after reporting higher-than-expected revenue in its fiscal second quarter thanks to gains made during the holiday season. Shares of the owner of luxury brands such as Kate Spade and Coach surged 16% to $85.29 in premarket trading.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 06, 2025 08:53 ET (13:53 GMT)
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