Ralph Lauren ups sales forecasts

RALPH Lauren reported a higher-than-expected quarterly profit yesterday and again raised its full-year sales outlook.

The fashion company, whose brands include Polo, saw net revenue rise 11 per cent to $1.53bn (£0.9bn). It has benefited from a recovering demand for luxury items, as well as strong sales overseas. The most recent quarter is usually Polo’s strongest in wholesale as shipments are made ahead of Christmas. Company president Ralph Farah said: “We are encouraged by our current business momentum heading into the holiday season.”