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Ralph Lauren profit up 58 per cent

Over a nine month period Ralph Lauren’s profit shot up by 58.6 per cent. Revenues grew 1.6 per cent. The company adopted strategies that allowed it to elevate the brand. North America continues to be Ralph Lauren’s most successful market, although it’s the market that least grew in the year. Sales in the region increased 0.6 per cent. The company’s sales in Asia grew the most, 4.7 per cent more. Additionally, in Europe, the group’s sales increased by 2.7 per cent. America continues to be Ralph Lauren’s most successful market, although it’s the territory that grew the least in the year. Online sales of the company grew by two per cent with the Asian continent boosting sales of up to 36 per cent compared to the same period of 2019.

By the end of fiscal year 2020, Ralph Lauren expects revenue growth of between two per cent and three per cent in constant currency. On the other hand, the company expects the foreign currency to have a negative impact on revenue growth of up to 130 points.

Ralph Lauren will power all of its offices, distribution centers and stores with 100 per cent renewable electricity by 2025.

 
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