- A large jump in margins at Ralph Lauren (RL +14.1%) is helping to lift share prices of other higher-end apparel sellers. RL saw its gross margin rate improve to 59.8% from 55.4% a year ago on a higher mix of full-price sales.
- Early movers include Tapestry (NYSE:TPR) +1.6%, Fossil (NASDAQ:FOSL) +1.7%, PVH (NYSE:PVH) +1.7%, G-III Apparel (NASDAQ:GIII) +1.3% and Lululemon (NASDAQ:LULU) +1.4%.
- Previously: Ralph Lauren beats by $0.07, beats on revenue (May 23)
- Previously: Ralph Lauren positive on earnings beat (May 23)