Ralph Lauren (RL) Q2 2024 earrings are in with a boost to the annual outlook and signs of momentum from CEO Patrice Louvet.
Net income increased slightly to $147.9 million, or $2.31 a diluted share, from $146.9 million, or $2.19, a year earlier as the company bought back stock and paid dividends worth a combined $375 million.
Revenues in North America rose 3 percent to $739 million while Europe was up 7 percent to $566 million and Asia was ahead 9 percent to $380 million.Patrice Louvet, president and chief executive officer, told WWD in an interview that, while the luxury market has been challenged, “we’re really happy to say that you can count on Ralph Lauren to consistently perform.”
Ralph Lauren raised its annual revenue outlook to a gain of 3 percent to 4 percent in constant currencies, up from the 2 percent to 3 percent increase seen in August.
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