The Ralph Lauren Corp. has made a strong Q1 rebound as their earnings show a fast start to the year.
They have reported that their net income totalled $164.7M, or $2.18 per share, for the quarter ended 26 June, after a loss of $127.7M, or $1.75 per share, in the year-ago pandemic-lockdown period. Adjusted earnings per share of $2.29 crushed analysts’ estimates of $0.88.
Revenue skyrocketed 182 per cent $1.376bn, beating estimates of $1.218bn. Global e-commerce sales were up more than 80 per cent, with sales in its owned e-commerce channels increasing more than 45 per cent.
North American revenue rose 301 per cent to $662M. Comparable sales in the region were up 176 per cent, with a 278 per cent increase in brick-and-mortar stores and a 51 per cent increase in digital commerce.
“Against the backdrop of stronger than expected re-openings across North America and Europe, our teams delivered exceptional performance this quarter,” said Patrice Louvet, President and CEO. “Our timeless brand is resonating strongly with consumers around the world, and the breadth of our lifestyle portfolio is enabling us to deliver products that meet evolving consumer tastes and demand as we progressively emerge from the pandemic. Even as we continued to manage through Covid-related challenges in select markets and in our global supply chain, we are back on offense and excited about our future growth opportunities.”
