Nov 7 (Reuters) - Ralph Lauren ( RL ) raised its annual
sales forecast after topping quarterly revenue estimates on
Thursday, on steady demand for its cable-knit sweaters and
Oxford shirts in North America, Europe and China, sending shares
of the company 6% up in premarket trading.
Wealthy customers continue to splurge on high-end leather
handbags and Polo sweat-shirts, boosting demand across Ralph's
direct-to-customer channels and helping it counter a muted
wholesale business and soft e-commerce sales in North America.
The results are in contrast to a pullback in the broader
luxury sector, primarily in the key China market, which has hurt
larger European fashion houses such as Hugo Boss,
Kering and luxury bellwether LVMH.
The Club Monaco owner now expects fiscal year 2025 revenue
to increase about 3% to 4% compared with a prior forecast of a
2% to 3% rise.
The luxury retailer's net revenue rose 6% to $1.73 billion
in the second quarter ended Sept. 28 from a year earlier.
Analysts on average had expected revenue of $1.68 billion,
according to data compiled by LSEG.
(Reporting by Savyata Mishra in Bengaluru; Editing by Shinjini
Ganguli)