Stock Market News
Ralph Lauren beats quarterly revenue estimates
2022.08.09 16:18
FILE PHOTO: A man walks past Ralph Lauren Corp.’s flagship Polo store on Fifth Avenue in New York City, U.S., April 4, 2017. REUTERS/Brendan McDermid
(Reuters) – Ralph Lauren Corp (NYSE:RL) on Tuesday beat Wall Street estimates for quarterly revenue, helped by firm demand for its higher-priced clothing and accessories from affluent consumers in the United States and Europe despite decades-high inflation.
The company’s revenue rose to $1.49 billion in the first quarter ended July 2 from $1.38 billion, a year earlier. Analysts had expected revenue of $1.41 billion, according to IBES data from Refinitiv.
