Ralph Lauren Stock Rises After Earnings

📆 08/11/2023 11:15:00
📰 MarketWatch

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Same-store sales rose 6% compared to last year.

Ralph Lauren beat Wall Street’s expectations for the second-quarter Wednesday and reiterated guidance for fiscal 2024.

Global same-store sales rose 6% in the quarter, well ahead of expectations for a 0.9 percentage point increase. “This outlook reflects slightly increased caution around the wholesale channel,” the company said. Wholesale revenue in North America fell 7% in the second quarter.

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