Ralph Lauren and Tapestry Revise Guidance in Opposite Directions
Luxury goods companies Ralph Lauren and Tapestry saw their respective shares moving in opposite directions following their calendar fourth quarter earnings releases as both issued guidance revisions. Ralph Lauren appears to be executing well, while Tapestry can’t avoid macroeconomic and geopolitical uncertainty. By Kris Rosemann Ralph Lauren Raises Fiscal 2019 Guidance as Gross Margin Expands Shares of premium lifestyle product designer Ralph Lauren (RL) jumped following the release of its fiscal 2019 third quarter results February 5, as it turned in revenue growth of 5% on a year-over-year basis. Revenue in North America advanced 3% from the year-ago period, while revenue in Europe and Asia rose by 10% in each region, including 19% growth in Greater China in constant currency. … Read more