Ralph Lauren beats sales estimates as demand holds up

Ralph Lauren Corp (RL.N) 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.