Ralph Lauren Corp recently reported a slight increase in its quarterly revenues, with a 1% rise in net revenue to $1.83 billion for the third quarter ended December 31. This positive growth can be attributed to the continued demand for its high-end clothing and accessories, even in the face of expectations that affluent customers would reduce their spending on luxury goods. The company even managed to surpass analysts’ predictions, who had estimated revenue of $1.76 billion.

When analyzing revenue by region, it becomes clear that North America experienced a 1% increase in revenue, reaching $938 million for the third quarter. In Europe, revenue increased 1% to $469 million, both on a reported basis and an impressive 13% in constant currency. Asia also saw a 1% increase in revenue, amounting to $386 million for the same period.

Despite the overall positive revenue growth, Ralph Lauren Corp’s net income was recorded as $216 million, or $3.20 per diluted share on a reported basis. Comparatively, the net income in the same period the previous year was slightly higher at $218 million, or $2.93 per diluted share on a reported basis.

Patrice Louvet, the president and CEO of Ralph Lauren Corp, credited the company’s strong third-quarter performance to the resilience of their core consumers and the global popularity of their iconic products. Louvet expressed confidence in the company’s ability to adapt and deliver, highlighting its diverse range of products and multiple growth strategies.

Looking ahead, Ralph Lauren Corp foresees constant currency revenues increasing by approximately high-single digits in fiscal 2023, with a growth rate of around 8% on a 52-week comparable basis. Despite the challenging global operating environment, the company remains optimistic about its future prospects.

For more information on Ralph Lauren Corp’s quarterly revenues, you can visit their official website here. Additionally, to learn more about luxury fashion trends and industry insights, you can check out this Business of Fashion article.