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Your Polo Shirt Could Cost More as Ralph Lauren Raises Prices
- CEO Patrice Louvet says more brand cachet supports increases
- Ralph Lauren performed better in department stores than Capri
Polo Ralph Lauren clothing in New York.
Photographer: Daniel Acker/Bloomberg
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Ralph Lauren Corp. will continue to raise its average retail prices, although at a more moderate pace than during the past couple of years, the company’s chief executive officer said.
That’s in contrast to some peers, such as Capri Holdings Ltd., which said on Wednesday that it will pause price increases on concern that consumers are starting to pull back. The 10% average price increases at Ralph Lauren in the most recent quarter didn’t dissuade shoppers, Chief Executive Officer Patrice Louvet said in an interview Thursday. Revenue in the quarter ended Dec. 31 was $1.83 billion, above the average estimate compiled by Bloomberg of $1.76 billion.