Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
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Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid

Ralph Lauren raised its annual sales forecast after topping quarterly revenue estimates on Thursday, on steady demand for its cable-knit sweaters and Oxford shirts in North America, Europe and China, sending shares of the company 6% up in premarket trading.
Wealthy customers continue to splurge on high-end leather handbags and Polo sweat-shirts, boosting demand across Ralph's direct-to-customer channels and helping it counter a muted wholesale business and soft e-commerce sales in North America.
The results are in contrast to a pullback in the broader luxury sector, primarily in the key China market, which has hurt larger European fashion houses such as Hugo Boss, Kering and luxury bellwether LVMH.
The Club Monaco owner now expects fiscal year 2025 revenue to increase about 3% to 4% compared with a prior forecast of a 2% to 3% rise.
The luxury retailer's net revenue rose 6% to $1.73 billion in the second quarter ended Sept. 28 from a year earlier. Analysts on average had expected revenue of $1.68 billion, according to data compiled by LSEG.



Shein, Temu Gear Up for 2026 UK Trial over Copyright and Competition Claims

FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo
FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo
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Shein, Temu Gear Up for 2026 UK Trial over Copyright and Competition Claims

FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo
FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo

Online fast-fashion platforms Shein and Temu are gearing up for a 2026 trial at London's High Court, with the rivals trading allegations of copyright infringement and anti-competitive behavior in competing lawsuits.
Shein sued Temu in Britain last year, accusing Whaleco UK Limited – whose ultimate parent is Temu's owner PDD Holdings – of breach of copyright in relation to photos of some products available on the Temu platform.
Temu hit back with a counterclaim in February, accusing Shein of breaking British competition law by tying suppliers of fast-fashion products to exclusive agreements, a claim it values at 4.2 million pounds ($5.5 million) and which Shein denies.
Temu's lawyers said in court documents for a preliminary hearing on Tuesday that Shein is "flooding Temu with unwarranted notices of copyright infringement, disrupting the sale of products".
Their cases at London's High Court are expected to come to trial towards the end of 2026, Shein's lawyers said in court documents.
The London lawsuit is one leg of a global legal battle between the two rivals. Temu sued Shein in the US in December, with Shein filing its own case against Temu in August.
Both Shein and Temu have rapidly expanded in international markets with low-cost clothing, accessories and gadgets, though they have come under increased scrutiny.
Shein has faced questions over its treatment of workers and environmental record, particularly ahead of a potential London listing. It has previously said it is committed to respecting human rights and has a zero-tolerance policy for forced labor.
Temu, meanwhile, is facing an investigation from the European Commission over whether it may have breached rules aimed at preventing the sale of illegal products. Temu has said it will cooperate with regulators.