Ralph Lauren said revenue grew 6% to $1.9 billion in its fiscal third quarter ended Dec. 30. Global direct-to-consumer (DTC) same-store sales grew 9% over the identical period. Gross profit was $1.3 billion, the retailer said.
“We delivered a powerful holiday, with continued progress on our Next Great Chapter: Speed up plan and third quarter results that exceeded our expectations led by continued momentum in our direct-to-consumer channels,” Patrice Louvet, President and CEO said in an announcement. “These results underscore the range of our strategic growth drivers all over the world in a still-volatile operating environment in addition to our culture of operating discipline and agility.”
Ralph Lauren ranks No. 78 within the Top 1000, Digital Commerce 360’s database of the most important North American e-retailers by online sales.
Ralph Lauren revenue by channel
Comparable sales on Ralph Lauren’s ecommerce web sites grew 8% yr over yr, the retailer said. That was on top of 11% growth within the year-ago period.
In North America, online sales grew 4% while in-store sales grew 6%. Meanwhile, wholesale revenue declined 15%. North America total revenue remained flat yr over yr at $933 million.
In Europe, online sales led growth, up 12% yr over yr. Ralph Lauren brick-and-mortar sales grew 10%, and wholesale revenue grew 5%. Total European revenue grew 11% to $522 million.
Revenue in Asia grew fastest of all, up 16% to $446 million. Online sales grew even faster, recording a 25% increase. Ralph Lauren Asia brick-and-mortar sales grew 13%.
Ralph Lauren Q3 highlights
The apparel retailer noted a number of the high points behind the successful quarter. In Q3, Ralph Lauren added more customers than in any quarter for the reason that onset of the pandemic. It gained 1.7 million DTC customers.
Much of the expansion was attributable to a successful holiday season, the retailer said, pointing to the “Season for Dreaming” holiday campaign. Traffic to outlet stores especially grew over the vacations, it said. Average unit retail (AUR) grew 9% within the third quarter across DTC sales, on top of 10% growth last yr.
Through the same period, Ralph Lauren recorded strong online sales on Singles Day, the net shopping holiday in China on Nov. 11.
Finally, Ralph Lauren credited dressing Taylor Swift for her Time 2023 Person of the 12 months issue for growing brand awareness.
For the fiscal third quarter ended Dec. 30, 2023, Ralph Lauren reported:
- Revenue grew 6% to $1.9 billion.
- Global DTC same-store sales grew 9%.
- Ralph Lauren online sales in North America grew 4%.
For nine months ended Dec. 30, 2023, Ralph Lauren reported:
- Ralph Lauren revenue grew 3% to $5.1 billion.
- Gross profit grew 5% to $3.4 billion.
Percentage changes may not align exactly with dollar figures attributable to rounding. Check back for more earnings reports.
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