The US fashion group Ralph Lauren Corporation presented solid figures for the third quarter of the 2022/23 financial year on Thursday. The company was able to exceed market expectations in terms of both sales and earnings.
For the three months ended December 31, consolidated revenue was $1.83 billion, up 0.9 percent from the prior-year quarter. Adjusted for exchange rate changes, revenues grew by 7.2 percent.
Slight improvements in all market regions contributed to the small increase. In the Americas, sales increased by 1.0 percent (adjusted for currency effects: +1.2 percent) to USD 937.6 million, in Europe by 1.4 percent (adjusted for currency effects: +13.2 percent) to USD 469.3 million and in Asia, up 0.9 percent (+15.7 percent at constant currency) to $386.2 million.
Higher negative special effects ensured that operating profit shrank by 2.4 percent to 282.1 million US dollars. The reported net profit was 216.5 million US dollars (200.7 million euros) and thus only slightly below the level of the same quarter last year (-0.6 percent).
In the first nine months of the current financial year, Ralph Lauren was able to increase its sales by 4.4 percent (currency-adjusted +10.9 percent) to 4.90 billion US dollars. Net income fell 14.8 percent year-on-year to $490.4 million.