Ralph Lauren Corporation (NYSE:RL) closed at $351.86 on September 24, still well short of the high above $420 it set earlier in its twelve-month range. The business underneath has been going the other way. Revenue rose 15% in its last full financial year, or 12% once currency moves are stripped out. Earnings per share rose about 30% over the same stretch, roughly twice the pace of sales. That is the whole case in one sentence. The company is getting better, and the shares are getting cheaper.
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