Ralph Lauren reported quarterly results

full year earnings: “EX-99.1 2 rl-20230701ex991xpressrele.htm EX-99.1 Document EXHIBIT 99.1 RALPH LAUREN REPORTS FIRST QUARTER FISCAL 2024 RESULTS AND REITERATES FULL YEAR OUTLOOK • First Quarter Revenue Increased Slightly on a Reported Basis and 1% in Constant Currency, Ahead of Expectations, Led by Asia and Europe • Global Direct-to-Consumer Comparable Store Sales Grew Low-Single Digits in the Quarter, Driven by Strong Full-Price Retail Performance and Double-Digit AUR Growth • Delivered Gross Margin Expansion, Resulting in Operating Margin and Double-Digit EPS Growth Above Our Expectations, with Continued Brand Elevation More than Offsetting Peak Product Cost Headwinds • Maintained Healthy Balance Sheet with $1.7 Billion in Cash and Short-Term Investments and Inventory Growth of 1% • Reiterated Full Year Fiscal 2024 Outlook of Low-Single Digit Net Revenue Growth with Adjusted Gross and Operating Margin Expansion in Constant Currency NEW YORK -- (BUSINESS WIRE) -- August 10, 2023 -- Ralph Lauren Corporation (NYSE:RL), a global leader in the design, marketing, and distribution of luxury lifestyle products, today reported earnings per diluted share of $1.96 on a reported basis and $2.34 on an adjusted basis, excluding restructuring-related and other net charges for the first quarter of Fiscal 2024.”

fiscal year margin: “The Company expects constant currency gross margin expansion of 40 to 60 basis points to be more than offset by higher operating expenses due to the timing of strategic investments in the period, with a higher proportion of marketing and ecosystem investments in the second quarter of the fiscal year.”

second quarter margin: “Operating margin for the second quarter is expected to be in the range of 9.5% to 10.0% on a reported basis and 9.0% to 9.5% in constant currency.”