May 24 (Reuters) – Ralph Lauren Corp said on Tuesday it expects full-year sales to beat market expectations, benefiting from strong demand in the United States and Europe.
On Wall Street, the title, down 23% since the start of the year, gained 1% in trading before the opening.
The American fashion company now forecasts a 6-9% increase (“high single digits”) in constant exchange rates of its annual turnover, while Wall Street expects an increase of 3.6%, according to IBES data from Refinitiv.
In the fourth quarter, the group’s turnover stood at 1.52 billion dollars (1.42 billion euros), while analysts polled by Refinitiv expected an average of 1.46 billion dollars. (Report Praveen Paramasivam in Bangalore; French version Valentine Baldassari)
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