Ralph Lauren Corp. posted second-quarter results that reflect early progress in its Next Great Chapter strategic plan.
The company reported adjusted earnings per diluted share of $2.26, beating Wall Street’s consensus estimates by 10 cents.
Among the highlights in the quarter was strong growth in international markets, global digital revenue growth of 10 percent over last year and and acceleration in underdeveloped categories.
For the three months ended Sept. 29, net income rose 18.4 percent to $170.3 million, or $2.07 a diluted share, versus $143.8 million, or $1.75, a year ago. Net revenues rose 1.6 percent to $1.69 billion from $1.66 billion.
Shares of Ralph Lauren fell 5.5 percent to $129.45 in trading on the New York Stock Exchange at 10:02 a.m.