Ralph Lauren stock spiked to new record highs Thursday after the luxury lifestyle retailer cleared Q3 estimates and raised its guidance.
Ralph Lauren reported a 15% increase in earnings to $4.82 per share adjusted. Total revenue rose 11% to $2.14 billion.
FactSet analysts expected earnings of $4.53 per share on $2.01 billion in sales.
North America revenue increased 7% during the quarter, driven by an 8% increase in comparable store sales. Brick and mortar stores saw a 10% increase to comparable sales and online sales rose 3%.
Revenue from Europe jumped 16% during the quarter, while revenue from Asia increased 14%.
Ralph Lauren hiked its 2025 revenue outlook to range from 6% to 7% growth, compared to its prior forecast for 3% to 4% growth.
The company also expects Q4 revenue to grow from 6% to 7%.
Ralph Lauren Stock
RL stock jumped almost 10% Thursday and hit a new record high of 289.33 intraday. Shares are trading well above their previous all-time high of 260.77 from Jan. 28.
Ralph Lauren is is extended from a consolidation following a Jan. 6 breakout.
RL stock is up 18% so far this year.
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