Ralph Lauren reported quarterly results

full year earnings: “EX-99.1 2 rl-20220702ex991xpressrele.htm EX-99.1 Document EXHIBIT 99.1 RALPH LAUREN REPORTS FIRST QUARTER FISCAL 2023 RESULTS • Delivered First Quarter Revenue Growth of 8% on a Reported Basis and 13% on a Constant Currency Basis, Ahead of Expectations Driven by Strong Growth Across All Regions and a Mid-Teens Comparable Store Sales Increase • First Quarter Adjusted Operating Margin of 12.7% Exceeded Outlook with Operating Expense Discipline More Than Offsetting Higher Freight Costs to Fulfill Stronger Consumer Demand • Continued to Drive Investments in Key Strategic Priorities While Returning Cash to Shareholders Through Dividends as well as Repurchase of $213 Million of Class A Common Stock in the Quarter • Reiterated Full Year Fiscal 2023 Outlook of High-Single Digit Net Revenue Growth and Adjusted Operating Margin of Approximately 14.0% to 14.5%, Both in Constant Currency • Continued Board Refreshment with Election of Deb Cupp, President of Microsoft North America, to Board of Directors NEW YORK -- (BUSINESS WIRE) -- August 9, 2022 -- Ralph Lauren Corporation (NYSE:RL), a global leader in the design, marketing, and distribution of premium lifestyle products, today reported earnings per diluted share of $1.73 on a reported basis and $1.88 on an adjusted basis, excluding restructuring-related and other net charges for the first quarter of Fiscal 2023.”

first quarter margin: “Operating margin in both our owned and wholesale digital channels continued to significantly benefit the total Company margin rate ◦ Launched additional digital sites in key markets globally including India and Israel in the first quarter • Operate With Discipline to Fuel Growth ◦ First quarter adjusted operating margin was 12.7%, exceeding our outlook of approximately 12.2% as operating expense discipline helped to mitigate higher planned marketing investments and higher freight costs to support strong consumer demand in the period ◦ Inventories remain well positioned to support Fiscal 2023 product elevation and growth plans by region and as we deliberately shift inventory receipts earlier to mitigate global supply chain disruptions ◦ Continued progress on our citizenship and sustainability journey including: the announcement of our first Cradle-to-Cradle certified product with our iconic luxury cashmere crewneck sweater; and new Live On Promise to enable our past and future products to live on responsibly by 2030 First Quarter Fiscal 2023 Income Statement Review Net Revenue.”

second quarter margin: “4 Operating margin for the second quarter is expected to be in a range of 15.4% to 15.7% in constant currency, reflecting a continuation of higher freight and marketing expenses, which are expected to normalize in the second half of the year when the Company laps cost increases from the prior year.”