Ralph Lauren Corporation was among the biggest gainers in the S&P 500 as shares surged to a record high on Thursday after the company's third-quarter results came in better than expected.

Ralph Lauren (RL) said Thursday the holiday shopping season was more productive than expected, with sales rising 11% year-over-year to $2.14 billion, above the $2.01 billion analysts had expected. Comparable store sales rose 12% from the same time a year prior, well above the 5% growth analysts had projected.

The upscale clothing retailer's adjusted net income also came in at $307.9 million, up from $275.1 million a year ago and the $286 million consensus estimate compiled by Visible Alpha.

For the fourth quarter and full fiscal year, Ralph Lauren said it expects revenue to grow by about 6% to 7% year-over-year, up from the company's previous range of 3% to 4% for fiscal 2024. The range is also above analyst estimates, which expected revenue to rise by over 3% in the quarter and the full year.

Ralph Lauren CEO Patrice Louvet said the company is "encouraged" by the performance in the holiday quarter and "continue to be sharply focused" on driving continued growth.

Shares of Ralph Lauren jumped around 13% Thursday, setting an intraday record of $289.33 earlier in the day, and are now up roughly 90% in the last 12 months.