Ralph Lauren Posts Q1 Earnings Above Street View; Reiterates FY24 Outlook
Portfolio Pulse from Shivani Kumaresan
Ralph Lauren Corp reported Q1 FY24 sales growth of 0.4% year-on-year to $1.50 billion, beating the analyst consensus of $1.48 billion. The company reiterated its FY24 outlook for revenues to increase approximately low-single digits on a constant currency basis. However, RL shares are trading lower by 1.37% at $126.72.
August 10, 2023 | 1:51 pm
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Ralph Lauren reported better than expected Q1 FY24 sales but its shares are trading lower.
Ralph Lauren's Q1 FY24 sales beat analyst expectations, which is generally a positive signal. However, the company's shares are trading lower, indicating that the market may have expected even better results or is reacting to other factors not mentioned in the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100