Ralph Lauren shares jumped about 10% before the bell on Thursday after the high-end apparel brand beat quarterly revenue estimates, buoyed by strong sales in China as affluent shoppers continued to buy Polo shirts and cotton cable-knit jumpers.
The revenue growth was led by sales in Asia, the company said, with particular strength in China during the Lunar New Year. Wall Street investors are focused on how luxury brands are performing in the Chinese market, where consumers have shown signs of strain in recent months and luxury spending has recently faltered.
