The American group outperformed expectations in the second fiscal quarter. Thanks to its intensified presence at numerous cultural and sporting events, and on social networks, it has succeeded in renewing and rejuvenating its target audience.
Could it be the Beyoncé effect?
Ralph Lauren, which was one of the brands chosen by the American superstar to shine from May to September, during her Renaissance World Tour, finished its second fiscal quarter well, ending on September 30.
The American group has just reported net sales up 3% to $1.63 billion for the second fiscal quarter, positively surprising analysts who were expecting a more modest increase (+1.9%) to $1.61 billion.
Ralph Lauren’s adjusted operating income amounted to $172 million and its operating margin to 10.5%, 290 basis points lower than the previous year.
While the American group maintained its annual sales forecasts, it nevertheless expects a more modest increase in the third quarter (around + 1% to 2%), than those projected by analysts (+ 3.8% to $1.90 billion).
Solid performances
That didn’t stop Ralph Lauren CEO Patrice Louvet from welcoming the second-quarter results, during which his “teams delivered a solid performance, ahead of” his “commitments, with stronger sales growth in all regions, underpinned by” his “iconic brand“, his “pricing power and the continuation of” his “strategic investments“.
Discover our plans Subscribe for 1€ Become an active member of the community of luxury leaders.
To continue reading this article, subscribe or log in to your account
Read also > RALPH LAUREN UNVEILS 888 HOUSE, A DIGITAL CONCEPT STORE
Front Picture : © Ralph Lauren/Parkwood Entertainment
