Ralph Lauren reported quarterly results

full year earnings: “EX-99.1 2 rl-20240330xex991xpressrel.htm EX-99.1 Document EXHIBIT 99.1 RALPH LAUREN REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2024 RESULTS AHEAD OF EXPECTATIONS; PROVIDES INITIAL OUTLOOK FOR FISCAL 2025 • Fourth Quarter and Full Year Revenue Exceeded Expectations, with Fourth Quarter Revenue Up 2% on a Reported Basis and 3% in Constant Currency and Full Year Fiscal 2024 Revenue Up 3% in both Reported and Constant Dollars • Global Direct-to-Consumer Comparable Store Sales Increased 6% in Both the Fourth Quarter a nd Full Year, Driven by Continued Brand Elevation with Double-Digit Growth in Average Unit Retail ("AUR") and Full-Price Retail Performance • Delivered Fourth Quarter Gross and Operating Margin Expansion Above Our Outlook; Reported Full Year Operating Margin at the High End of Our Expectations and Initial Guide at the Start of Fiscal 2024, Resulting in 28% Reported Earnings Per Share Growth and 24% Adjusted EPS Growth • Introduced Outlook for Fiscal 2025 Net Revenue Growth of Low-Single Digits on Both a Reported and Constant Currency Basis, with Gross and Operating Margin Expansion on Track with Long-Term Next Great Chapter: Accelerate Targets • Returned a Total of Approximately $600 Million to Shareholders Through Our Dividend and Repurchase of Class A Common Stock in Fiscal 2024; Board of Directors Approves 10% Dividend Increase • Company Names Justin Picicci as Chief Financial Officer, Effective May 23, 2024, Following Multi-Year Succession Plan; Jane Nielsen to Remain in Chief Operating Officer Role Through Fiscal 2025 NEW YORK -- (BUSINESS WIRE) -- May 23, 2024 -- 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 $1.38 on a reported basis and $1.71 on an adjusted basis, excluding restructuring-related and other net charges, for the fourth quarter of Fiscal 2024.”