Ralph Lauren posted a net profit of 182.1 million dollars in its second fiscal quarter, ending in September, which is equivalent to an increase of 6.9% compared to the same period of the previous year.
“We have achieved results slightly above our general expectations, including revenues, operating margin and earnings growth per share above expectations,” explained the president and CEO of the company, Patrice Louvet.
The turnover between July and September reached 1.706.2 billion dollars, 0.9% more. By geographic areas, the revenues in North America contracted 0.8%, up to 881.2 million dollars, while those of Europe reached 480.2 million dollars, 3.3% more, and those of Asia rebounded 4.3%, up to 255.3 million of dollars.
The cost of the products sold decreased 0.6%, to 657.2 million dollars. On the other hand, selling, general and administrative expenses stood at 795.3 million dollars, practically the same figure as in the same period of the previous year.
“Our global teams are raising our iconic brand across all markets and all channels,” said the company’s chief executive and creative director, Ralph Lauren.
During the first fiscal semester, the firm’s net profit grew 7.1%, to 299.2 million dollars, while the net income stood at 3.135 billion dollars, 1.7% more.