Ralph Lauren beat Wall Street estimates for first-quarter results on Thursday, helped by strong demand from young and affluent shoppers for its high-priced collections, including linen shorts and lightweight outerwear. Shares of the company were up about 3 per cent in premarket trading. The high-end apparel company, founded by designer Ralph Lauren in 1967, has reported strong growth in recent months despite a broader slowdown in the global luxury sector. The company posted quarterly revenue of US$1.96 billion, compared with analysts’ estimates of US$1.87 billion. On an adjusted basis, the company posted earnings per share of US$4.59 for the reported quarter, compared with analysts’ estimates of US$4.32 per share, according to data compiled by LSEG. (Reporting by Anuja Bharat Mistry in Bengaluru and Danielle Kaye in New York; Editing by Tasim Zahid)
