Ralph Lauren (RL) Stock Rising in Pre-Market Trading on Earnings Beat

Ralph Lauren (RL) stock is up after the company reported its fiscal 2016 second quarter earnings results.
By Amanda Albright ,

NEW YORK (TheStreet) -- Ralph Lauren (RL) - Get Report stock is up by 12.63% to $128 in pre-market trading on Thursday, after the company's fiscal 2016 second quarter earnings results beat expectations.

Before the market open on Thursday, the New York City-based apparel company reported earnings of $1.86 per share compared to $2.25 per share for the year-ago period.

Revenue decreased to $1.97 billion, down from $1.99 billion for the same quarter last year. 

Analysts were expecting the company to report earnings of $1.73 per share on revenue of $1.95 billion.

"We achieved several critical goals, including the worldwide launch of Polo Sport, implementation of the new global brand structure, and strong growth in our international businesses during the quarter," Executive Chairman and Chief Creative Officer Ralph Lauren said in a statement. 

Separately, TheStreet Ratings team rates RALPH LAUREN CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate RALPH LAUREN CORP (RL) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow.

You can view the full analysis from the report here: RL

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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