Shares of Ralph Lauren (RL) are slipping despite topping earnings expectations in its first quarter. Yahoo Finance Executive Editor Brian Sozzi breaks down the top three takeaways from the retail company's first quarter earnings.

First, Ralph Lauren saw stronger results from Europe and Asia compared to other retail players. Second, its gross margins and operating profit margins are up year over year, which Sozzi calls a "really interesting sign," as it the company was able to grow its profit margins in a very promotional environment. Finally, Ralph Lauren saw mixed results in its North America business. Same-store sales in physical stores rose 3% while e-commerce fell 4% and wholesale fell 13%.

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This post was written by Melanie Riehl