ralph lauren\'s asian appeal buoys sales as home market sags
At least in Asia.
Preppy fashion companies are reportedly rebounding
Same-store sales in Asia were more than double what analysts expected in the same quarter, driving shares up eight times.
Comparable sales in Asia for online shopping soared by 46%.
Still, fashion companies are struggling to regain their footing in North America, where
Store sales fell 3% in fixed currencyand-
Mortar and online sales fell.
Better than the 4 th.
Analysts predict a 4% decline in the brand\'s domestic market, but there are still signs that the brand still has more work to do in the domestic market. In the U. S.
As shoppers flock to cheap, fast shopping, the appeal of the label has weakened
Fashion Collection on-
Changing Trend projects.
Meanwhile, Ralph Lauren hopes to succeed by setting trends and creating lasting styles that can be trusted over the years.
Chief executive Patrice Louvet has been working to revive Ralph Lauren by reducing inventory, reducing discounts and withdrawing some products from department stores.
With the brand back to basics, clothing projects that are not important to this effort are being eliminated. Same-
Global store sales fell by 3% on a currency-unchanged basis, despite a 6% increase in Asia, exceeding 2.
Analysts had expected a 3% gain in the region.
Shares rose to $147. 79.
The stock rose 31% this year as of Monday\'s close.
To drive this shift, executives are rolling out new versions of classic styles such as peacoats, military uniforms and polo wholesale t shirts wholesale that are now infused with new technical features and newer fabrics
Men\'s polo shirt with double saw
With Ralph Lauren injecting investment into one of its best areas, the quarter\'s digital growth
This spring, its polos has increased its well-known style and marketing spending by about 20%.
On Monday, the company said that in an animal --
Investigation of the rights of angora goats.
Income is $1.
Excluding some items, $54 per share, with an average estimate of $1. 36. Revenue was $1. 39 billion.
Analysts had expected $1. 36 billion.
On the issue of designer Ralph Lauren, and his difficult relationship with the ceo, it has been largely resolved since the departure of former executive Stefan Larsson.
He clashed with the founder and left in less than two years.
Lauren cast a vote of confidence in former P & G company Louvet.
US executives assured analysts and investors at a conference call in May that they have a \"strong partnership \".
\"I continue to be encouraged and motivated by our team\'s enthusiasm for our brand and company,\" executive chairman Lauren said in a statement Tuesday . \".
\"This enthusiasm goes with Patrice\'s collaboration over the past year, the clear plans he and the team made in June, and the initial progress of the quarter, as we celebrate our 50-year business career, give me confidence in the future. ”—
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