Ralph Lauren beats sales estimates as demand holds up
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FILE PHOTO: A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, U.S., April 4, 2017. REUTERS/Brendan McDermid
(Reuters) - Ralph Lauren Corp on Thursday topped market estimates for quarterly revenue, as wealthier shoppers unaffected by inflation splurged on the company's high-end clothing and footwear.
Net revenue rose to $1.58 billion for the second quarter, from $1.50 billion a year earlier, compared to analysts' forecast of $1.56 billion according to Refinitiv IBES data.
(Reporting by Deborah Sophia and Uday Sampath in Bengaluru; editing by Milla Nissi)
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