Ralph Lauren Corporation (RL) shares climbed 11.98 percent to $368.65, up $39.41 on Thursday, after the luxury fashion company reported stronger fourth-quarter earnings and revenue and raised its quarterly dividend.
The stock is currently trading at $368.65, compared with a previous close of $329.24 on the New York Stock Exchange. It opened at $363.00 and traded between $356.85 and $369.58 during the session, with volume reaching 849,605 shares, above the average daily volume of 622,232 shares.
Quarterly net income increased to $152 million, or $2.45 per share, from $129 million, or $2.03 per share, a year earlier. Adjusted earnings rose to $174 million, or $2.80 per share, from $144 million, or $2.27 per share, last year.
Revenue increased 17% to $1.98 billion from $1.70 billion in the prior-year quarter, supported by strong full-price selling trends. Direct-to-consumer comparable store sales rose 17% during the quarter and increased 13% for the full year.
Ralph Lauren shares have traded between $258.13 and $393.41 over the past 52 weeks.
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