Ralph Lauren reports higher-than-expected growth in turnover and profit

Ralph Lauren closed the first quarter of its fiscal year with net revenue of $1.96 billion (approximately 1.7 billion euros), up 14% from a year earlier. Following this better-than-expected start, the company is also raising its outlook for the full fiscal year.

Strong start

Ralph Lauren’s retail revenue climbed 13% to $1.37 billion (€1.19 billion), while wholesale revenue rose 15% to $554.7 million (€480.8 million). Not only did revenue increase, but net income also rose, from $220 million to $262 million (€227 million). By region, revenue grew most strongly in Asia, at 24%. In North America, the increase was 13%; in Europe, 7%; and in other segments, 4%.