Ralph Lauren beats quarterly sales estimates


(Reuters) – Ralph Lauren Corp topped market estimates for quarterly revenue on Thursday, with affluent shoppers snapping up its pricey sweaters and suits even as overall luxury spending cooled in the United States.

Net revenue rose to $1.54 billion in the fourth quarter, compared with analysts’ estimates of $1.47 billion, according to Refinitiv IBES data.

(Reporting by Deborah Sophia in Bengaluru; Editing by Shounak Dasgupta)