Loading...
Loading...
- Ralph Lauren Corp RL reported fourth-quarter FY23 sales growth of 1% year-on-year to $1.54 billion, beating the consensus of $1.47 billion.
- Global Direct-to-Consumer Comparable Store Sales grew 6%.
- Revenue in North America decreased by 3% to $656 million, Europe slipped by 1% to $461 million, and Asia grew by 13% to $390 million.
- Gross profit declined to $951 million, with a gross margin of 61.7%. Adjusted gross margin was 63%.
- The operating margin was 2.6%, and operating income for the quarter increased by 9.2% to $40 million. The adjusted operating margin was 6.1%, 390 basis points above the prior year.
- The company held $1.6 billion in cash and equivalents as of Apr 1, 2023. Operating cash flow for the year totaled $411 million.
- Adjusted EPS of $0.90 beat the analyst consensus of $0.61.
- Outlook: Ralph Lauren expects FY24 revenues to increase approximately low-single digits on a constant currency basis.
- It expects FY24 operating margin to expand 30-50 basis points in constant currency, driven by gross margin expansion.
- For Q1, the company expects revenue to be flat to up slightly to last year on a constant currency basis.
- Price Action: RL shares are trading higher by 7.4% at $116.26 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in