Ralph Lauren Raises Outlook Despite Soft Sales Forecast
Ralph Lauren raised its annual outlook and reported strong second-quarter demand. However, shares slid as its third-quarter sales forecast missed Wall Street expectations.
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RALPH LAUREN CORP raised its annual sales outlook on Thursday despite projecting third-quarter revenue growth below Wall Street estimates, sending its shares down 4%. The luxury apparel maker has outperformed peers through strong demand in United States and China outlets. Investors had set a high bar following a 16% share price gain this year.
