Ralph Lauren Corporation (NYSE:RL) shares headed sharply north Thursday, as the maker of luxury lifestyle products reported earnings per diluted share of $4.19, up 31% to prior year on a reported basis and $4.17, up 24% on an adjusted basis, excluding restructuring-related and other net charges for the third quarter of Fiscal 2024. This compared to earnings per diluted share of $3.20 on a reported basis and $3.35 on an adjusted basis, excluding restructuring-related and other net charges for the third quarter of Fiscal 2023.
"Our vision inspires people to live the life of their dreams," said Lauren himself. "And this holiday season, our teams around the world brought this to life in iconic products and campaigns marked with timeless elegance and a spirit of joy."
In the third quarter of Fiscal 2024, revenue increased 6% to $1.9 billion on a reported basis and was up 5% in constant currency. Operating expenses in the third quarter of Fiscal 2024 were $968 million on a reported basis. On an adjusted basis, operating expenses were also $968 million, up 7% to last year.
Operating income for the third quarter of Fiscal 2024 was $318 million and operating margin was 16.4% on a reported basis. On an adjusted basis, operating income was also $318 million and operating margin was 16.4%, 40 basis points above the prior year.
RL shares leaped $15.71, or 10.7%, to $162.85.
