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Ralph Lauren Exceeds Profit Expectations for 14th Straight Quarter

Net revenue for its fiscal third quarter went up 6 percent to $1.93 billion.

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Ralph Lauren Exceeds Profit Expectations for 14th Straight Quarter
PHOTOGRAPHY: iStock/mizoula

Ralph Lauren (New York) has reportedly exceeded its profit expectations for the 14th straight quarter, according to Reuters. The retailer cites strong holiday sales in the U.S. (driven by demand for cashmere, coats, sweaters and cocktail dresses) alongside a rebound of sales in China – with sales growing more than 30 percent there.

CEO Patrice Louvet said on post-earnings call, “The momentum we have on brand is attracting higher-value, younger consumers.” Indeed, this was the company’s strongest quarter when it came to customer acquisition, with 1.7 million new shoppers added to its direct-to-consumer business.

Net revenue for the retailer went up 6 percent to $1.93 billion for the fiscal third quarter, exceeding expectations of $1.87 billion.

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