Ralph Lauren beats quarterly revenue estimates

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FILE PHOTO: A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York

(Reuters) – Ralph Lauren Corp on Tuesday beat Wall Street estimates for quarterly revenue, helped by firm demand for its higher-priced clothing and accessories from affluent consumers in the United States and Europe despite decades-high inflation.

The company’s revenue rose to $1.49 billion in the first quarter ended July 2 from $1.38 billion, a year earlier. Analysts had expected revenue of $1.41 billion, according to IBES data from Refinitiv.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli)