US brand Ralph Lauren`s revenue up 8% in Q1FY23

Fashion

US brand Ralph Lauren`s revenue up 8% in Q1FY23

12 Aug `22

3 min read

In the first quarter of fiscal 2023, net revenue of Ralph Lauren increased by 8 per cent to $1.5 billion on a reported basis and was up 13 per cent in constant currency, ahead of expectations driven by strong growth across all regions. Foreign currency negatively impacted revenue growth by approximately 510 basis points in the first quarter.

North America revenue in the first quarter increased 6 per cent to $701 million. In retail, comparable store sales in North America were up 5 per cent, with a 5 per cent increase in brick and mortar stores and a 2 per cent increase in digital commerce. North America wholesale revenue increased 5 per cent.

Europe revenue in the first quarter increased 17 per cent to $416 million on a reported basis and increased 28 per cent in constant currency. In retail, comparable store sales in Europe were up 34 per cent, with a 45 per cent increase in brick and mortar stores and a 7 per cent increase in digital commerce.

Asia revenue in the first quarter increased 16 per cent to $334 million on a reported basis and 26 per cent in constant currency. Comparable store sales in Asia increased 19 per cent, with a 17 per cent increase in our brick and mortar stores and a 37 per cent increase in digital commerce.

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