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Polo Ralph Lauren’s Q1 Profit Blows Away Expectations; Shares Surge (RL)

Apparel maker Polo Ralph Lauren Corporation ( RL ) on Wednesday posted fiscal first quarter earnings that easily bested analysts' view, sending its shares surging in premarket trading.

The New York-based company reported fiscal first quarter net income of $184.1 million, or $1.90 per share, compared with $120.8 million, or $1.21 per share, in the year-ago period.

Revenue rose 33% from last year to $1.49 billion.

On average, Wall Street analysts expected a smaller profit of $1.44 per share on lower sales of $1.41 billion.

Looking ahead, the company said it now expects second quarter sales to rise at a high-teens to low-20% rate over last year, and also boosted its full-year outlook to the mid-to-high teens.

Polo Ralph Lauren shares rose $12.25, or +10%, in premarket trading Wednesday.

The Bottom Line

Shares of Polo Ralph Lauren ( RL ) have a .67% dividend yield, based on last night's closing stock price of $119.85. The stock has technical support in the $115-$120 price area. If the shares can firm up, we see overhead resistance around the $130 price level.

Polo Ralph Lauren Corporation ( RL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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