Bengaluru — Ralph Lauren’s quarterly revenue and profit beat Wall Street estimates on Thursday, selling more of its high-end clothes at full price and keeping a lid on costs, sending its shares up more than 5% on Thursday. Known for its signature Polo shirts and classic tweed blazers, the company is in the middle of a two-year turnaround plan that seems to be taking hold, as margins and revenue increase across its stores. "There is finally a faint light at the end of Ralph Lauren’s long tunnel of reinvention," Neil Saunders, managing director of research firm GlobalData Retail said. Ralph Lauren’s stock was up 5.4% at $94.28. Shares of department store operators and Ralph Lauren customers, Macy’s and Kohl’s were up nearly 2%, while Gap rose up 1.5%. Ralph Lauren had been struggling to compete in a brutal retail sector, as fast-fashion apparel brands and a rapid decline in traffic to malls and stores due to the shift to online shopping, knocked established names to the side. The luxu...
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