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The American clothing brand Ralph Lauren has announced on Thursday, May 20th its revenue projections for the year 2021.
Ralph Lauren expects revenue growth for the year to be below analysts’ estimates. Indeed, the high-end apparel maker prefers to remain cautious in the face of further lock-ins such as potential shop closures in some of its markets as a result of the Covid-19 pandemic; although the brand’s revenue is expected to grow by around 140% to 150% in the first quarter of 2021, according to estimates.
During the spikes in infections earlier this year in many countries, governments were forced to put their economies on pause, dampening the sales momentum of high fashion brands. However, while the global luxury goods industry is trending upwards in the first quarter of 2021 due to vaccine campaigns and the gradual reopening of shops, Ralph Lauren is the exception as shares in the company, best known for its polo shirts, have fallen by 8%.
In addition, the company’s fourth-quarter revenue rose about 1% to $1.29 billion and exceeded expectations for the first time in four quarters, despite falling sales in North America, which were 10% higher than expected.
“We’re not completely done with Covid-19, as you look at what’s happening in Japan, what’s happening in parts of Europe and other parts of Asia,” Ralph Lauren CEO, Patrice Louvet, told to the analysts.
In the same cautious approach to the epidemic, for the 2022 fiscal year, Ralph Lauren expects revenues to increase by about 20% to 25% at constant exchange rates, while analysts were expecting a 31.1% increase, according to Refinitiv.
Read also > BOGART GROUP ANNOUNCES FIRST QUARTER 2021 RESULTS
Featured photo : © Ralph Lauren[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
The American clothing brand Ralph Lauren has announced on Thursday, May 20th its revenue projections for the year 2021.
Ralph Lauren expects revenue growth for the year to be below analysts’ estimates. Indeed, the high-end apparel maker prefers to remain cautious in the face of further lock-ins such as potential shop closures in some of its markets as a result of the Covid-19 pandemic; although the brand’s revenue is expected to grow by around 140% to 150% in the first quarter of 2021, according to estimates.
During the spikes in infections earlier this year in many countries, governments were forced to put their economies on pause, dampening the sales momentum of high fashion brands.
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[/vc_cta][vc_column_text]Featured photo : © Ralph Lauren[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”subscriber,customer”][vc_column][vc_column_text]
The American clothing brand Ralph Lauren has announced on Thursday, May 20th its revenue projections for the year 2021.
Ralph Lauren expects revenue growth for the year to be below analysts’ estimates. Indeed, the high-end apparel maker prefers to remain cautious in the face of further lock-ins such as potential shop closures in some of its markets as a result of the Covid-19 pandemic; although the brand’s revenue is expected to grow by around 140% to 150% in the first quarter of 2021, according to estimates.
During the spikes in infections earlier this year in many countries, governments were forced to put their economies on pause, dampening the sales momentum of high fashion brands.
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