Ralph Lauren grows 1.6% and triggers profit by 58.6% in the first nine months

Ralph Lauren in the upper range. The US group has shot its profit by 58.6% in the first nine months of the year 2020 (closed on December 28), up to 633 million dollars. The company’s revnue grew by 1.6%, to 4.8 billion dollars.

The company has ensured that the results are “ahead of our overall expectations.” In this sense, the president and CEO of Ralph Lauren, Patrice Louvet, has attributed this increase to the strategies adopted by the company that has allowed “to elevate our brand”. 

North America continues to be Ralph Lauren’s most successful market, although it’s the market that least grew in the year. The company’s sales in this region increased by 0.6%, to 2.5 billion dollars. Asia was the continent in which the company’s sales grew the most, 4.7% more up to 803 million dollars. Additionally, in Europe, the group’s sales increased by 2.7%, to 1.2 billion dollars. 

America continues to be Ralph Lauren’s most successful market, although its the territory that grew the least in the year

The online sales of the company grew by 2%, with the Asian continent boosting sales of up to 36% compared to the same period of the year 2019.  

By the end of the fiscal year 2020, Ralph Lauren expects revenue growth of between 2% and 3% 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.