Ralph Lauren's Q3 revenue jumps 6% amid global sales surge

Ralph Lauren Corporation (NYSE:RL) delivered a solid financial performance for the fiscal quarter ending September 28, 2024, surpassing Wall Street expectations.

The luxury fashion brand reported a 6% revenue growth, driven by strong market momentum in Europe and Asia and a notable 10% increase in comparable store sales worldwide.

The company posted a fiscal second-quarter profit of $147.9 million, translating to earnings of $2.31 per share.

When adjusted for one-time costs, Ralph Lauren reported earnings of $2.54 per share, surpassing analysts' average estimate of $2.43 per share, according to Zacks Investment Research.

Revenue for the quarter also exceeded forecasts, reaching $1.73 billion against analysts' expectations of $1.67 billion.

Ralph Lauren's confidence in its brand growth led the company to raise its guidance for fiscal 2025.

It now anticipates a 3-4% increase in constant currency revenues, reflecting sustained positive momentum.

Meanwhile, the company returned approximately $375 million to shareholders this fiscal year, underlining its commitment to shareholder value.