Ralph Lauren shares jump on Q3 profit beat

Investing.com -- Ralph Lauren Corp posted third-quarter earnings above Wall Street estimates on Thursday, as affluent consumers continued to spend on high-end apparel, boosting sales and margins. Shares jumped more than 6% before the opening bell.

The luxury fashion house reported earnings per share of $4.66 on a reported basis, up 11% from $4.19 a year earlier. Analysts had expected earnings of $4.50 per share.

Revenue rose to $2.1 billion, surpassing estimates of $2.01 billion.

Operating margin for the quarter stood at 18.2%, while gross margin expanded to 68.4%, helped by disciplined pricing and cost management.

The company reaffirmed its full-year capital expenditure outlook of $200 million to $250 million.

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