Ralph Lauren (RL) Tops Q3 EPS by 4c, Revenues Miss

Ralph Lauren (NYSE: RL) reported Q3 EPS of $1.67, $0.04 better than the analyst estimate of $1.63. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.47 billion.

• Third Quarter Revenues Were $1.4 Billion Reflecting Continued Recovery from COVID-19-Related Impacts; Asia Exceeded Expectations with Mid-Teens Growth
• Global Digital Commerce Sales Increased More than 20%, with Double-Digit Growth Across All Regions with Continued Expansion in Profitability
• Stronger than Expected Gross and Operating Margins Driven by a 19% Increase in Average Unit Retail and Continued Expense Reductions
• Restructuring Actions on Track with Second Stage Focused on Realignment of Real Estate Footprint Across Corporate Offices, Retail Stores, and Distribution Centers

"For more than 50 years we have stayed true to a set of values that define us – among them timelessness, quality, perseverance and optimism," said Ralph Lauren, Executive Chairman and Chief Creative Officer. "And in this period of great challenge and change, it is these values that are enabling us to authentically and deeply connect with our consumers around the world."

"Despite the disruptions and uncertainty we faced throughout our third quarter, our teams continued to elevate our brands and effectively engage with consumers around the world – delivering better than expected gross and operating margins through the holiday period, and continuing to meaningfully improve our digital profitability," said Patrice Louvet, President and Chief Executive Officer. "We remain focused on emerging from this period in a position of strength as we invest in key areas like our digital transformation, while taking a disciplined approach with expenses and ensuring we have the right resources, footprint and brand portfolio to support future growth and value creation."

For earnings history and earnings-related data on Ralph Lauren (RL) click here.

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