You are here: Home » Reuters » News
Business Standard

Ralph Lauren tops revenue estimates, North America sales rebound

Reuters 

(Reuters) - returned to growth in in its second fiscal quarter as a strategy to intensify marketing on bore fruit, also helping the upscale group top Wall Street revenue estimates on Tuesday.

Its increased focus on is aimed at wooing more high-spending millennials as a lack of big discounts and promotions has shrunk its clientele in recent years.

The New York-based company said it spent about 30 percent more on marketing in the three months ended September, compared with a year earlier, targeting events including its 50th Anniversary Show and the Week.

Its revenue from rebounded, rising 1.4 percent after several quarters of declines.

Revenue overall rose 1.6 percent to $1.69 billion, better than analysts' expectation of a 0.9 percent fall.

Net income rose to $170.3 million or $2.07 per share in the second quarter ended Sept. 29, from $143.8 million or $1.75 per share a year earlier.

Excluding one-time items, earned $2.26 per share, exceeding Wall Street estimates for the ninth consecutive quarter.

Analysts on average had expected earnings of $2.16 per share and revenue of $1.65 billion, according to IBES data from

(Reporting by in Bengaluru; Editing by Sai Sachin Ravikumar)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 06 2018. 19:07 IST
RECOMMENDED FOR YOU