Ralph Lauren last night beat expectations to deliver soaring revenues after a difficult 2020.
The high-end American fashion brand reported full-year sales in 2021 beyond pre-pandemic levels – up 41 per cent to £4.96billion.
The figures were boosted by its fourth quarter earnings update which delivered double digital growth across all regions.
Sales up: Ralph Lauren reported full-year revenue in 2021 beyond pre-pandemic levels up 41% to £4.96bn
Sales in the final three months climbed 18 per cent to £1.19billion while North America – Ralph Lauren’s most lucrative market – enjoyed a 19 per cent increase to £538million.
The luxury fashion brand’s sales also rose 53 per cent in Europe and 25 per cent in Asia.
Patrice Louvet, president and chief executive officer, said: ‘Our teams around the world executed exceptionally well to deliver fourth quarter and full year results that exceeded our expectations as we continued to progress on our long-term strategic commitments.
‘We have laid the groundwork for healthy sustainable growth and value creation in fiscal 2023.’
Ralph Lauren has forecast revenue growth of around 8 per cent in the first quarter of 2023 despite global supply chain problems.
