Ralph Lauren’s third quarter sales results exceeded its own expectations, and those of the analysts. Both sales and profits were surprising. During the period that closed on December 28th, the group reached 1.75 billion USD in sales: +1% at current rates and +2% at constant rates. The result surpassed the analysts’ estimate, which was of 1.72 billion.
Ralph Lauren posted adjusted profits of 2.86 USD per share, up from the 2.45 USD forecasted by analysts. Net profits before tax were of 203.4 million USD (+15.5%), while in the same period sales in China surged by 30%. The trend is symmetrical and opposite of that of Hong Kong’s.
Throughout the year
When looking at the first 9 months of Ralph Lauren, the group’s sales incremented to 4.88 billion USD (+1.6%), with 633 million in net revenue (+58.6%). “We continue to make progress even while in a volatile context”, comments Ralph Lauren’s president and CEO, Patrice Louvet. The group’s forecast growth between 2% and 3%, but the outlook doesn’t consider the effects of the coronavirus disease.