Ralph Lauren sees better-than-expected sales growth
Luxury fashion retailer Ralph Lauren has reported positive sales growth in the latest quarter, which surpassed expectations and was mainly driven by Europe and Asia.
The company’s second-quarter sales rose 6 per cent to $1.7 billion on a reported basis, as well as 6 per cent in constant currency.
“Our strong business performance across every geography this quarter underscores the resilience of our diversified growth drivers and our elevated consumer base, giving us confidence to take up our financial outlook for the full fiscal year ahead of the all-important holiday season,” said Patrice Louvet, president and CEO.
Asia led the revenue growth, up 9 per cent, while Europe sales increased 7 per cent thanks to strong brand momentum across the region. North America grew 3 per cent on the back of an improved direct-to-consumer performance.
Ralph Lauren also expanded its ecosystems in the second quarter, adding 25 new owned and partnered locations. The stores are in Tulsa, Oklahoma, Giverny, France, and Shenzhen, China.
The company expects revenues to climb by 3 per cent to 4 per cent in the third quarter.
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