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Ralph Lauren Group and Capri Holdings reported quarterly results on Tuesday that were well above analysts’ expectations.
Ralph Lauren beats consensus
In the three months to 2 July, the Ralph Lauren Group reported a 25.1% decline in net profit to $123.4 million. However, earnings per ordinary share (EPS) reached $1.88 against analysts’ expectations of $1.71.
Revenue also rose by 8.3% to $1.49 billion against a consensus of $1.4 billion. The results were driven by same-store sales, which rose by 5% in North America, 34% in Europe and 19% in Asia.
Going forward, Ralph Lauren expects second quarter sales growth to be “centred around” 11% against a consensus of 5.4%.
Capri Holdings performs well in first quarter driven by luxury
Capri Holdings, the group that owns Jimmy Choo, Coach and Michael Kors, among others, saw net profit rise to $215 million, or $1.50 per diluted share, from $221 million, or $1.42 per diluted share, a year earlier.
Operating income was USD 231 million and operating margin was 17.0%, compared to USD 258 million and 20.6% the previous year.
Total revenue of USD 1.36 billion increased by 8.5% compared to 2021. On a constant currency basis, total revenue increased by 15.2%.
“The better than expected results were driven by strong momentum in all three luxury houses, reflecting the strength of our brands. Capri Holdings is positioned to deliver several years of revenue and earnings growth,” said John D. Idol, chairman and chief executive officer of Capri Holdings, in a statement.
Read also > Hermès on a very good run in the first half
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Ralph Lauren Group and Capri Holdings reported quarterly results on Tuesday that were well above analysts’ expectations.
Ralph Lauren beats consensus
In the three months to 2 July, the Ralph Lauren Group reported a 25.1% decline in net profit to $123.4 million. However, earnings per ordinary share (EPS) reached $1.88 against analysts’ expectations of $1.71.
Revenue also rose by 8.3% to $1.49 billion against a consensus of $1.4 billion. The results were driven by same-store sales, which rose by 5% in North America, 34% in Europe and 19% in Asia.
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Ralph Lauren Group and Capri Holdings reported quarterly results on Tuesday that were well above analysts’ expectations.
Ralph Lauren beats consensus
In the three months to 2 July, the Ralph Lauren Group reported a 25.1% decline in net profit to $123.4 million. However, earnings per ordinary share (EPS) reached $1.88 against analysts’ expectations of $1.71.
Revenue also rose by 8.3% to $1.49 billion against a consensus of $1.4 billion. The results were driven by same-store sales, which rose by 5% in North America, 34% in Europe and 19% in Asia.
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