Fashion retailer Ralph Lauren’s net revenue grew by 5.1 percent to US $ 1.7 billion in the third quarter of the year.
The company’s brands include Polo Ralph Lauren, Ralph Lauren Collection, Lauren Ralph Lauren, Double RL, Ralph Lauren Childrenswear, Denim & Supply Ralph Lauren, Chaps, and Club Monaco.
Its North America revenue increased by 3 percent to US $ 909 million. However, its wholesale business plunged 3 percent. Further, a 21 percent increase in digital commerce was also recorded.
The retailer’s retail business in Europe also increased by 10 percent to US $ 415 million. Comparable store sales were up 4 percent and 13 percent in e-commerce. While wholesale revenue from Europe increased by 16 percent.
Asia revenue increased by 10 percent to US $ 275 million. Comparable store sales in Asia increased by 4 percent.
Overall gross profit of Ralph Lauren stood at US $ 1.1 billion while operating income was US $ 194 million.
Net income for the reporting quarter remained US $ 120 million.
“Solid execution on our key initiatives, especially during the important holiday period, delivered better-than-expected results for the third quarter as we drove higher average unit retail and continued to improve quality of sales overall,” said Patrice Louvet, President and Chief Executive Officer of Ralph Lauren.
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