Ralph Lauren clocks better-than-expected Q1 FY'13

"The growing global appeal of the World of Ralph Lauren is supported by our continued reinvestment in the business," said Ralph Lauren, Chairman and Chief Executive Officer.

"Our products are the lifeblood of our success and we are building on our leadership position in apparel to create exciting new avenues of growth with handbags, footwear, watches and jewelry.

“At the same time, we are expanding our presence in the world's most dynamic markets, particularly in China and online. Our luxury lifestyle positioning is a tremendous asset as we execute on our long-term goals and the passion and dedication of our teams around the world is incredibly invigorating."

"Our better-than-expected first quarter earnings demonstrate the operational discipline of our organization," said Roger Farah, President and Chief Operating Officer. "Our performance was achieved on top of exceptionally robust expansion in the preceding two years and despite our decision to wind down certain North American and Asian operations.

“Balanced revenue gains across all channels of distribution highlight the diversity of our business model. The resilience of our profit margins is particularly noteworthy as we continue to navigate through raw materials cost inflation and a high level of investment in our key growth objectives.

“While we are proud of our strong start to Fiscal 2013, the outlook for consumer spending and global economic growth remains challenging and we are planning our business accordingly."

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Ralph Lauren Corporation