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This morning, Polo Ralph Lauren (NYSE: RL) reported that its second-quarter earnings checked in at $178 million. This profit comes out to $1.75 per diluted share compared to $1.58 per diluted share for the same quarter last year. For the first six months of fiscal 2010, RL saw net income drop a percentage point, to $254 million. Per-share income totaled $2.51 per share, which was equal to those from a year ago. RL Chairman and Chief Executive Officer, Ralph Lauren, noted that the results "confirm the resilience and vitality of our strategy and demonstrate the superb execution of our management team." The company noted that results have exceeded its expectations for the first half and upped its sales projections for the remainder of the year.
Technically, RL is in the midst of a struggle with the $80 level. This region acted as resistance in the past, but this time the stock has the support of its 10-week moving average. Can this trendline help the stock break through the overhead resistance? We may find out this morning, as the earnings news could be the catalyst for the stock advancing through the $80 region. The good news is that a retreat from this resistance should be held in check by the 10-week trendline.
With Christmas coming, we could see the stock receive a bit of a boost. That said, the price of RL's clothing could be a major stumbling block for a majority of beleaguered consumers. We should get a quick idea of how the holiday shopping season is going for RL: if we see sudden discounts it could signal that sales are lagging expectations. Retail could be a rather risky play during the holidays ... shop carefully.
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