INTERNATIONAL – Ralph Lauren reported better-than-expected quarterly revenue and profit on Tuesday, as its North America business benefited from a social media marketing blitz and the launch of new editions of its trademark Polo shirts.
Shares of the New York-based company rose nearly 6 percent before the bell, adding to their 8 percent gains so far this year.
Ralph Lauren, like other apparel and handbag retailers, is trying to revive growth after years of heavy discounting and a strategy of flooding the market with its lower-end goods.
The company has launched limited edition apparel and partnered with professional golfer Justin Thomas for the sporting season to reinvigorate sales of core products like its Polo shirts.
Ralph Lauren has also been focusing heavily on marketing, spending as much as 19 percent in the first quarter to promote its products and launch new campaigns through prominent social-media personalities.