Ralph Lauren Exceeds Profit Expectations for 14th Straight Quarter

Ralph Lauren (New York) has reportedly exceeded its profit expectations for the 14^th straight quarter, according to Reuters. The retailer cites strong holiday sales in the U.S. (driven by demand for cashmere, coats, sweaters and cocktail dresses) alongside a rebound of sales in China – with sales growing more than 30 percent there.

CEO Patrice Louvet said on post-earnings call, “The momentum we have on brand is attracting higher-value, younger consumers.” Indeed, this was the company’s strongest quarter when it came to customer acquisition, with 1.7 million new shoppers added to its direct-to-consumer business.

Net revenue for the retailer went up 6 percent to $1.93 billion for the fiscal third quarter, exceeding expectations of $1.87 billion.