Ralph Lauren Corporation (NYSE:RL) shares are trading higher on Thursday.
The company reported third-quarter adjusted earnings per share of $4.17, beating the street view of $3.54.
The quarterly revenue was $1.93 billion, beating the consensus of $1.87 billion.
Third-quarter revenue increased by 6% on a reported basis and 5% in constant currency, with all regions exceeding expectations, led by Asia.
Adjusted gross margin was 66.4%, 120 basis points above the prior year. Lower freight costs, favorable channel and geographic mix shifts, and AUR growth across all regions drove gross margins.
On an …
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