The Ralph Lauren (RL) Q1 2024 earnings are in with profits up despite sales declines in North America.
Now the company is having its moment on Wall Street, with first-quarter results that showed stronger profits and a mild increase in sales, with gains in Europe and Asia outweighing declines at home in North America.
Revenues in North America fell 4 percent to $608 million, as wholesale continued to be a tough spot with a 13 percent decline impacted by the timing of Easter and fewer sales to offpricers. DTC comparable sales were up 5 percent in every region in what Louvet described as “a volatile environment.”
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