Like other apparel companies, Ralph Lauren Corp, has launched limited edition apparels and partnered with professional golfer Justin Thomas for the sporting season to reinvigorate sales of core products like its Polo shirts. The company has taken a slightly more cautious view of the retail environment for the year ahead and continues to see challenges with brick-and-mortar traffic, including foreign tourist volatility.

For the second quarter, the company forecast net revenue to rise by about 1 per cent on a constant currency basis and expects a stronger dollar to pressure revenue growth by about 90 to 100 basis points. The company maintained its revenue forecast for the rest of the year.

Net income rose to $117.1 million or $1.47 per share, in the first quarter ended June 29 from $109 million, or $1.31 per share, a year earlier. Excluding one-time items, the company earned $1.77 per share, while net revenue rose to $1.43 billion. Analysts were expecting a profit of $1.66 per share and revenue of $1.42 billion, according to IBES data from Refinitiv. Shares of the New York-based company reversed course to fall about 4 per cent after rising about 6 per cent in trading before the bell.