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Ralph Lauren Beats Estimates, Makes More Long Term Investments

8/06/14 3:51 PM EDT
Ralph Lauren shares traded higher on Wednesday after the fashion house posted quarterly results which topped Wall Street forecasts. Earnings came in at $1.80 a share, beating estimates, but were far below what the company earned in the same quarter last year. Revenue came in at $1.7 billion were consistent with expectations. The decline in earnings was a result of the long term investments the company is making in their long term growth in hopes of reaching double-digit revenue growth in international and e-commerce sales. This fall a new 20,000 square-foot luxury flagship Ralph Lauren will open in Greater China along with the first Polo flagship store in New York City later this month. Whalen MacHale reports for TheStreet from New York.
Stocks in this video: RL
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