Polo Ralph Lauren Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What:Polo Ralph Lauren (NYS: RL) popped 10% in intraday trading today after reporting better than expected earnings and raising guidance.
So what: Fiscal first-quarter EPS of $1.90 grew 57% year over year and trounced the $1.44 consensus estimate. Revenue grew 33% percent to $1.53 on improvements in both retail and wholesale sales and came in well above the $1.41 billion consensus forecast.
Now what: Same-store sales increased 19% and online sales increased 28% from the year-ago quarter. Management raised fiscal 2012 revenue guidance to growth in the "mid-to-high teens" from growth in the "mid-teens." The chief operating officer said the company's core apparel products gained market share and its long-term growth initiatives are on track. Looking forward, he expressed concern about macroeconomic uncertainty and inflation but confidence the company would "navigate through these near-term challenges."
Interested in more info on Polo? Add it to your watchlist byclicking here.
At the time this article was published Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.