Ralph Lauren beats sales estimates as demand holds up

(Reuters) – Ralph Lauren Corp on Thursday topped market estimates for quarterly revenue, as wealthier shoppers unaffected by inflation splurged on the company’s high-end clothing and footwear.

Net revenue rose to $1.58 billion for the second quarter, from $1.50 billion a year earlier, compared to analysts’ forecast of $1.56 billion according to Refinitiv IBES data.

(Reporting by Deborah Sophia and Uday Sampath in Bengaluru; editing by Milla Nissi)