Asia Demand Momentum Boosts Fashion Brand Ralph Lauren's Q2 Earnings; North America Wholesale Revenue Falls 7%
Portfolio Pulse from Shivani Kumaresan
Ralph Lauren Corp reported Q2 FY24 sales growth of 3% YoY to $1.63 billion, beating the analyst consensus estimate of $1.61 billion. Revenue in North America decreased by 1%, Europe increased by 7%, and Asia grew by 10%. The company held $1.5 billion in cash and equivalents as of September 30, 2023. Ralph Lauren continues to expect revenues to increase approximately low-single digits to last year on a constant currency basis. RL shares are trading higher by 2.13% at $115.26.
November 08, 2023 | 5:28 pm
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Ralph Lauren's Q2 FY24 sales growth and positive outlook, despite a decrease in North American revenue, has led to a 2.13% increase in its share price.
Ralph Lauren's Q2 FY24 sales growth, driven by strong demand in Asia, beat analyst estimates, leading to a positive market reaction and a 2.13% increase in its share price. Despite a decrease in North American revenue, the company's positive outlook for future growth indicates a strong performance that could continue to drive its share price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100