Ralph Lauren beats quarterly revenue estimates

Business

Ralph Lauren Corp (RL.N) on Tuesday beat Wall Street estimates for quarterly revenue, helped by firm demand for its higher-priced clothing and accessories from affluent consumers in the United States and Europe despite decades-high inflation.

The company’s revenue rose to $1.49 billion in the first quarter ended July 2 from $1.38 billion, a year earlier. Analysts had expected revenue of $1.41 billion, according to IBES data from Refinitiv.