Ralph Lauren Shares Rise on Strong Asia and US Sales
The New York-based apparel company reported first-quarter revenue of $1.96 billion, surpassing analyst estimates of $1.87 billion. Growth was driven by a 40% sales increase in China and steady demand from younger shoppers in North America for high-end collections.
Xurve View
Insights:
Xurve View
RALPH LAUREN CORP shares rose 7% in morning trading after the company beat first-quarter revenue estimates and raised its annual forecast. The New York-based retailer reported $1.96 billion in revenue, outperforming the $1.87 billion projected by LSEG analysts. Demand from younger consumers for high-end collections is insulating the brand from a broader slowdown in the global luxury market.
