RALPH LAUREN REPORTS BETTER-THAN-EXPECTED SECOND QUARTER RESULTS

Ralph Lauren Corporation has reported its second quarter net revenues of $2.0 billion, which increased 4 percent above the same period last year in constant currency, driven by double-digit growth internationally, contribution from new stores and strong global e-commerce growth.

The company has also reported a better-than-expected operating margin of 13.5 percent which reflects benefits from the global brand management structure. Earnings per diluted share were reported at $2.13 in the second quarter, which is up 13 percent from last year.

“I am pleased that the company is beginning to benefit from our recent strategic initiatives and investments,” said Ralph Lauren, executive chairman and chief creative officer. “We achieved several critical goals, including the worldwide launch of Polo Sport, implementation of the new global brand structure, and strong growth in our international businesses during the quarter. I am confident that our key strategic initiatives will drive continued growth and create significant shareholder value over the long term.”

In September, Ralph Lauren Corporation announced that Stefan Larsson has been named the company’s chief executive officer, but still reports to Lauren, who will continue to oversee the company.

As of 10:30 a.m. Ralph Lauren Corp. stock is up 18.09 points at $131.66.