Mixed results for Ralph Lauren

Ralph Lauren (RL -0.9%) saw a favorable channel and geographic mix help it improve its gross margin rate by 30 bps to 61.0% in FQ1.

Segment revenue: Wholesale -3.7% to $708M; Retail +9.2% to $960M; Licensing +2.6% to $40M.

FQ2 revenue guidance from the luxury retailer was for $1.99B-$2.03B vs. $2.07B consensus.

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