Ralph Lauren’s profit nearly tripled in the third quarter as it charged more for its winter wear in the holiday season and benefited from a one-time tax cut. Report by sampath_uday
) down jackets and fleeces during the crucial holiday season boosted its margin and helped the company beat quarterly profit estimates on Tuesday, sending the fashion house’s shares up over 8%.
Sales in China remained strong, rising 30% in the third quarter, benefiting from a marketing drive on social media channels TikTok and WeChat. Heavyweight parkas, coats, light down jackets and wind breakers were among Ralph Lauren’s bestsellers during the holidays, Chief Executive Officer Patrice Louvet said.“The company’s winter wear was on trend in terms of color and silhouette,” Jessica Ramirez, analyst at research firm Jane Hali & Associates said. “They got them right.”
However, new advertising campaigns on television and in stores, as well as a new holiday-themed Snapchat filter drove Ralph Lauren’s marketing expenses higher by 16% in the quarter.
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