On the evening of November 8th, Ralph Lauren released his financial report for the second quarter of the 2024 fiscal year. In the second fiscal quarter ending at the end of September, Raffles Lauren's sales increased by 3.4% year-on-year to $1.63 billion, exceeding analysts' expectations, with a gross profit margin of 65.5% and a decrease of 2.4% in net profit to $147 million. The brand stated that the growth in performance is mainly due to strong demand from young and affluent consumers for products such as sweaters, polo shirts, and dresses.
The company maintains its annual sales forecast unchanged, but expects revenue to increase by approximately 1% to 2% in the third quarter, lower than analysts' average expectations of an increase of 3.8% to $1.9 billion.