Ralph Lauren beat sales expectations for the first quarter of the year.
The US fashion brand reported net sales of $1.5 billion, up 8 percent year-on-year or 13 percent on a constant currency basis.
By region, sales in Ralph Lauren’s North American home market rose 6 percent to $701 million. Sales in Europe increased 17 percent to $416 million and in Asia sales increased 16 percent to $334 million.
The US fashion giant reported net income of $123 million compared to $135 million last year.
Outlook for the year as a whole
For the full year, Ralph Lauren now expects currency-neutral sales to increase in the high single digits by approximately 8 percent. The operating margin should be between 14 percent and 14.5 percent at constant exchange rates.
“Our strong first quarter results underscore the strength of our brand and the momentum of our strategy around the world after executing a significant multi-year reset,” said Patrice Louvet, general manager at Ralph Lauren. “While the global business environment is as uncertain as ever, our talented and dedicated teams embrace multiple growth opportunities to scale our business with creativity and discipline – from attracting high-value new clients to expanding digital and… Improving our touchpoints across all regions and channels.”
This translated and edited article previously appeared on FashionUnited.uk.