Ralph Lauren Poised to Deliver Fiscal Q2 Beat, Raise Earnings Guidance, UBS Securities Says

MT Newswires Live10-29 01:45

Ralph Lauren (RL) is expected to post a beat and raise type of report for its upcoming fiscal Q2 print, UBS Securities said in a note Tuesday.

The investment firm said the bars for the quarterly print include a 15 cents to 25 cents earnings per share beat, low-single digit ex-forex sales growth outlook for fiscal Q3, and implied Q3 EPS guidance bracketing Wall Street view of $6.86.

Industry data suggests Ralph Lauren's Q3 US DTC sales rose low-single digits over Q2 and are trending in the low to mid-single digit range Q3-to-date, UBS said.

In China, data has indicated the company's Q3 gross merchandise value rising 38% over Q2. Meanwhile, visits to Ralph Lauren global websites have risen 67% on average, according to the note.

Ralph Lauren is scheduled to report its fiscal Q2 results on Nov. 5.

UBS Securities raised its price target to $521 from $520, with a buy rating on the stock.

Price: 389.60, Change: -1.65, Percent Change: -0.42

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