Ralph Lauren has reported double-digit sales growth for both the fourth quarter and the full year, which an analyst attributed to the brand’s positioning and discipline.

The company’s net revenue soared 17 per cent to $2 billion (up 12 per cent in constant currency) in the quarter ended March 28.

Asia was in the lead in terms of sales growth with a 31 per cent uplift, followed by Europe (up 18 per cent) and North America (up 8 per cent).

Full-year net revenue increased 15 per cent on a reported basis and 12 per cent on a constant currency basis.

According to GlobalData MD Neil Saunders, the strong advance continues to be underpinned by Ralph Lauren’s positioning, which the team has worked hard to refine over recent years and continues to maintain with good discipline.  

“The combination of being accessibly premium with classic pieces is resonating with consumers… This stance delivers value because the quality and taste level justify the price point. But so too does the styling, which remains classic, so pieces can be repeatedly worn and mixed and matched in different ways. 

“Consumers really do roughly calculate cost per wear in their minds, and Ralph Lauren’s numbers look good on this front. This essentially shortcuts many objections to higher prices that might exist,” Saunders said.

Other helpful factors include consumers’ recent focus on more structured and dressy styles, occasions and events like the Lunar New Year, and the sponsorship of Team USA at the Winter Olympics, the analyst added.

On the bottom line, net income grew 17.8 per cent to $152 million in the fourth quarter and 26.6 per cent to $941 million for the full year.

The company expects net revenue to increase about 4-5 per cent in constant currency this fiscal year.

“Admittedly, the growth rate may not be as punchy as it was this quarter as the brand will lap some tougher comparatives and will face some consumer pressures. But we believe Ralph Lauren will remain on a positive trajectory for both sales and profit,” Saunders said.