Ralph Lauren Corporation (NYSE:RL) was among the stocks Jim Cramer discussed in this changing market. Cramer highlighted that the company posted a “blowout quarter,” as he commented:
Now, let’s talk about the second clear winner among the major retailers, and it’s one that I really, really like, that I’m so glad they delivered, which is Ralph Lauren. Now, these guys delivered just a true blowout quarter. 17% revenue growth translated into a 25-cent earnings beat off a 2.55 basis. Even better, Ralph Lauren posted 17% direct to consumer comparable store growth. Wall Street was only looking for 8.5%. The brand, it’s on fire. In fact, Ralph Lauren’s been roaring for several years now under CEO Patrice Louvet. The company’s merchandising has been excellent.
They keep taking a share in new categories like women’s apparel, accessories. They’ve also built this really strong DTC business. On top of that, management gave us a robust full-year forecast. The stock had pulled back pretty hard in the weeks before the quarter, but it snapped back last Thursday. It rallied nearly 14% in response, now within spitting distance of its all-time highs. Remember, I like strength, like I said at the top of the show.
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Ralph Lauren Corporation designs and sells apparel, footwear, accessories, home products, and fragrances across multiple luxury and lifestyle brands.
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