US luxury retailer Ralph Lauren Corporation reported strong holiday-quarter earnings, with revenue climbing 12% to $2.40bn and net income at $362m. Gross profit reached $1.68bn, operating income at $471m, and direct-to-consumer sales rose at a high-single-digit rate. The company also opened 32 new stores and added 2.1 million customers.

North America revenue advanced 8% to $1.07bn, Europe grew 12% to $676.5m, and Asia surged 22% to $620.3m. Operating margin improved to 20.9%, while operating expenses were $1.2bn. The company expects high-single to low-double-digit revenue growth for the year and mid-single-digit growth in the fourth quarter.

Ralph Lauren Corporation’s nine-month net revenue reached $6.13bn, with net income at $789.5m. Gross profit rose to $4.29bn, operating income to $990.6m. The company now anticipates operating-margin expansion of 100–140 basis points for the year. Executive chairman Ralph Lauren expressed optimism for the future, inspired by the American West.

Read more at Yahoo Finance: Ralph Lauren beats holiday forecasts and raises full-year outlook