RALPH LAUREN IS BACK IN FASHION AS SALES SURGE

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 41pc to £4.96bn.

The figures were boosted by its fourth quarter earnings update which delivered doubledigital growth across all regions.

Sales in the final three months climbed 18pc to £1.19bn while North America – Ralph Lauren’s most lucrative market – enjoyed a 19pc increase to £538m. The luxury fashion brand’s sales also rose 53pc in Europe and 25pc 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 8pc in the first quarter of 2023 despite global supply chain problems.