Ralph Lauren have been flying high in the second financial quarter. In fact, the US group announced that sales increased by 1%, up to 1.7 billion dollars, therefore going beyond expectations (1.69 billion dollars).
Europe and Asia
Increasing earnings in Europe (+3%) and Asia (+4%) have been mostly driving Ralph Lauren positive trend. In so doing, the brand successfully recovered from the Hong Kong collapse, as sales slumped by 27% owing to riots and protests. Adjusted profits reached 2.55 dollars per share, therefore going beyond financial analysts’ forecast (they had predicted 2.39 dollars per share). Ralph Lauren currently hire over 23,300 employees and run more than 200 stores all over the world.
Ralph Lauren have been speeding up with regard to total traceability as well. In fact, the group have launched the Digital Product Identities (IDS) project, which aims at tracing the product authenticity across the whole supply chain. Trademark customers can check it, view related information about the product and take style advice on the way to put it on by scanning the QR code on its label. The company is going to implement such technology in all of the Polo Ralph Lauren products. “Thanks to the application of this technology, every Polo Ralph Lauren product will be a native digital one. This is going to be a new milestone in the innovation of data intelligence in our industry”, commented David Laurenc, Chief Innovation Officer (CIO) of the group, while speaking to Retail Dive.
Picture taken from corporate.ralphlauren.com