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Ralph Lauren posts surprise rise in quarterly sales

Net revenue rose to $1.50 billion in the first quarter
Net revenue rose to $1.50 billion in the first quarter

Ralph Lauren has reported a surprise rise in quarterly revenue, as its high-end jumpers, shirts and outdoor clothing drew more shoppers in the US even as broader luxury spending slowed in the country.

Net revenue rose to $1.50 billion in the first quarter, from $1.49 billion a year earlier.

Analysts on average had expected a marginal drop to $1.48 billion, according to Refinitiv data.