Ralph Lauren beats profit estimates amid stable demand

The Polo Bear sweaters maker's net revenue rose 1% to $1.51bn in the first quarter. 

Ralph Lauren beat first-quarter profit estimates as steady demand for its pricey denims and polo shirts in Europe and China offset slower sales in the US.

Resilient demand for designer fashion from wealthier consumers has benefited companies such as Canada Goose and Miu Miu-owner Prada, even as their European rivals hinted at a slowdown due to challenges in China and a pullback in spending by "aspirational" shoppers.