Ralph Lauren Corporation (RL Quick QuoteRL - Free Report) seems an attractive investment option now, thanks to its digital endeavors and other robust strategies. The company’s “Next Great Chapter” plan appears encouraging. Management is focused on enhancing digital capabilities, deepening relations with customers via marketing, expanding international markets and efficiently controlling expenses.

Backed by such strengths, shares of this apparel and accessories designer have surged a whopping 73.8% compared with the industry’s 27.7% growth in a year. A VGM Score of B further adds strength to this currently Zacks Rank #1 (Strong Buy) company.

Let’s Delve Deeper

Ralph Lauren is making smooth progress in expanding its digital and omnichannel capabilities through investments in mobile, omnichannel and fulfillment. The company remains focused on further digital investments to continue the creation of content for all platforms, expanding digital capabilities to improve the user experience, and continuing to leverage AI and data to serve consumers more efficiently.

The company continues to scale and expand its connected retail capabilities, including virtual selling appointments, “buy online, pick up in store”, endless aisle product availability and more. RL launched its first-ever full catalog Ralph Lauren mobile app, efficiently leveraging its connected retail capabilities to deliver the most personalized and content-rich platform.

As part of the “Next Great Chapter” plan, the company completed the transition of Chaps to a licensed business, thus concluding the portfolio realignment announced last year. The move will likely enable it to focus on core brands, as part of the “Next Great Chapter” elevation strategy. In addition, the company’s strategy of product elevation, personalized and targeted promotion, disciplined inventory management and favorable channel and geographic mix, bodes well.

Ralph Lauren is on track to exceed its top and bottom-line targets under the “Next Great Chapter” plan that was announced in June 2018. Later, it announced measures to accelerate its “Next Great Chapter plan”, which include creating a simplified global organizational structure and rolling out improved technological capabilities.

Analysts seem quite optimistic about the company. The Zacks Consensus Estimate for fiscal 2024 sales and earnings per share (EPS) is currently pegged at $6.6 billion and $10.23, respectively. These estimates show corresponding growth of 2.7% and 22.7% year over year. The consensus estimate for fiscal 2025 sales and EPS is presently pegged at $6.9 billion and $11.20, respectively, indicating increases of 4.2% and 9.5%.

To wrap up, Ralph Lauren seems to be a decent investment pick given all the aforementioned positives.

Other Key Consumer Discretionary Picks

Some other top-ranked companies are Royal Caribbean (RCL Quick QuoteRCL - Free Report) , lululemon athletica (LULU Quick QuoteLULU - Free Report) and Crocs (CROX Quick QuoteCROX - Free Report) .

Royal Caribbean sports a Zacks Rank of 1, at present. RCL has a trailing four-quarter earnings surprise of 28.3%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 14.5% and 47.9%, respectively, from the year-ago period’s reported levels.

lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank #2 (Buy), at present.

The Zacks Consensus Estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 13.7% and 15%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.2%, on average.

Crocs carries a Zacks Rank of 2 at present. CROX has a trailing four-quarter earnings surprise of 14.2%, on average

The Zacks Consensus Estimate for Crocs’ fiscal 2024 EPS indicates an increase of 2.9% from the year-ago period’s reported level.