Ralph Lauren tops S&P 500 after Q4 earnings beat
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Ralph Lauren shares rose and became the best performer in the S&P 500 after the luxury retailer reported fiscal fourth-quarter earnings that beat analyst estimates. The stock gained 12% in morning trading, pushing its market cap above $12 billion.
Earnings Performance
Ralph Lauren reported adjusted earnings per share of $2.45 for the quarter ended March 28, beating the consensus estimate of $2.10. Revenue came in at $1.57 billion, slightly above the $1.55 billion expected by analysts. The company cited strong demand in Asia and direct-to-consumer channels.
Market Reaction
The stock surged 12% to $215.50 by midday, making it the top gainer in the S&P 500 index. The broader market was flat, with the S&P 500 down 0.1%. Ralph Lauren's gain added roughly $1.3 billion to its market value.
What's Next
Ralph Lauren is scheduled to hold an investor day on June 10. It remains unclear whether the company can sustain its growth momentum amid ongoing supply chain disruptions and inflationary pressures.
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Ralph Lauren tops S&P 500 after Q4 earnings beat
