Ralph Lauren did better than expected in Q1
"It's a good start," commented Ralph Lauren Corp on Wednesday, August 6, following the publication of the results for the first quarter of its 2014-15 fiscal year ending on June 28.
At 1.7 billion dollars (approximately 1.3 billion euros), turnover was up by 3.3% compared to the first quarter of last year, and sales of the autumn-winter collection have gotten off to an encouraging start.
Over the period, the group listed on Wall Street posted a more than 10% decline in net profit to 162 million dollars, or 121 million euros. The company said that heavy investments were allocated to its international retail expansion plan, which will see the opening of a large Ralph Lauren flagship in inland China this fall.
The first quarter has also been impacted by investments made in preparation for the launch of Polo for women in August.
In terms of management, the American fashion company welcomed the French executive Valérie Hermann in early April to oversee its luxury division as CEO of Ralph Lauren Luxury Collections, a position created especially for her.
As of June 28, Ralph Lauren operated 436 stores around the worldwide and 503 corners in department stores. Ralph Lauren partners operated 65 franchise stores and 110 Club Monaco stores around the world.
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