Europe and Asia drive Q1 growth at Ralph Lauren

07/08/2024

Luxury group Ralph Lauren saw revenues increase by 1% in its first quarter to $1.5 billion. Over the three-month period from April to June, sales in Europe increased by 6% to $479 million, and those in Asia were up 4%, to $391 million. In North America, its sales slipped by 4% to $608 million. In its home markets, it said that a 3% increase in brick-and-mortar stores helped offset a 4% decrease in e-commerce, and a ‘planned’ decline in wholesale.

The group noted two key product highlights for this quarter: a Wimbledon capsule tapping the tenniscore trend and its 2024 Paris Summer Olympics collection as official outfitter of Team USA.

Focus on physical retail continues for the group, which opened eight new owned and partnered stores in the quarter. This included the inauguration of its renovated World of Ralph Lauren store in Chicago, on Michigan Avenue, which houses an RL restaurant and its first Ralph’s Coffee shop in the Midwest.

“We delivered a solid start to the year, with first quarter performance exceeding our expectations on the top- and bottom-line led by our direct-to-consumer and international businesses,” commented Patrice Louvet, President and CEO.

For Fiscal 2025, Ralph Lauren expects revenues to increase in the low-single digits of 2 to 3% compared to last year on a constant currency basis.

Photo © Ralph Lauren Corp.

Europe and Asia drive Q1 growth at Ralph Lauren - insidedenim: Glo

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Europe and Asia drive Q1 growth at Ralph Lauren

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