RALPH LAUREN raises its annual revenue forecast after beating quarterly estimates on resilient demand “To date, we have not seen any meaningful changes in consumer behavior across our key consumer segments or markets,” said CEO Patrice Louvet, adding that demand remains healthy and the core customer is resilient.
Second quarter revenue, on a reported basis, rose 13% in North America and 22% in Europe, while for China, it was up over 30% versus a year ago. It expects full-year revenue to increase 5% to 7% on a constant currency basis, versus prior forecast of a low- to mid-single-digit percentage growth
For the first six months of the year as a whole, the company reported sales of $3.79 billion dollars, up 7% compared to the same period last year. Net profit for the first six months was $302 million, up 19%, and the adjusted operating margin reached 12.9%.
The group maintains its Next Great Chapter: Drive roadmap, focused on raising brand awareness, optimizing its distribution network and consolidating its global positioning. Coinciding with the presentation of results, the company’s CEO stressed that growth is based on geographic diversification and the consistency of the direct-to-consumer model, and anticipated a more moderate environment in the second half of the year.
Ralph Lauren Chicago
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