Ralph Lauren Maintains FY23 Revenue Growth Outlook - Update
(RTTNews) - While reporting its financial results for the second quarter on Thursday, luxury fashion house Ralph Lauren Corp. (RL) maintained its revenue growth guidance for the full-year 2023. It also provided revenue growth outlook for the third quarter.
For fiscal 2023, the company continues to expect constant currency revenues to increase approximately in the high-single digits, or about 8 percent. Foreign currency is now expected to negatively impact revenue growth by approximately 730 basis points.
For the third quarter, the company expects revenue growth in the low- to mid-single digits in constant currency. Foreign currency is expected to negatively impact revenue growth by approximately 780 basis points.
On average, analysts polled by Thomson Reuters expect the net sales of $1.80 billion for the quarter and net sales growth of 1.6 percent to $6.32 billion for the year.
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