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Ralph Lauren rebounds in Q1 and North American sales surge 300%

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Fiber2Fashion

Release



August 5, 2021

An American fashion company doing well in North America and Europe Ralph Lauren Corporation’s revenue increased 182% to $ 1.4 billion. North American revenue was up 301% to $ 662 million.

“Our timeless brands have struck a chord with consumers around the world, and the breadth of our lifestyle portfolio has created products that meet evolving consumer tastes and demands as we gradually move away from the pandemic. Can be provided. ” Patrice LouveSaid Ralph Lauren Corporation’s president and chief executive officer.

Gross profit for the first quarter of 2010 was $ 968.1 million ($ 348.7 million in the same period last year), but operating profit surged to $ 220.6 million (operating loss, last time $ 168 million). Did. The company’s net profit improved to $ 164.7 million (from a loss of $ 127.7 million).

In-store sales increased 154% and online sales increased 23%, resulting in total European first-quarter sales of $ 355 million, up 194% year-over-year. In addition, revenue from Asia increased 68% to $ 288 million.

In the future, the company said that the ongoing uncertainties and evolving conditions surrounding Covid-19 will determine the timing and path of recovery in each market, including the possibility of further outbreaks or recurrences of pandemics in various markets. He said he would continue to keep in mind the impact. As a potential global supply chain disruption. Considering these factors, Ralph Lauren Corporation currently expects revenues to increase by approximately 25-30% in 2010.

Ralph Lauren rebounds in Q1 and North American sales surge 300%

Source link Ralph Lauren rebounds in Q1 and North American sales surge 300%

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