By - Team Kalkine Media
- Ralph Lauren’s revenue for the fourth quarter of fiscal 2022 jumped 18%.
- Ralph Lauren posted earnings per diluted share of US$0.34 on a reported basis.
- Ralph Lauren’s fourth-quarter gross profit for fiscal 2022 was US$966 million.
Global fashion company Ralph Lauren (NYSE: RL) on Tuesday posted an 18% growth in fourth-quarter revenue to US$1.52 billion, while its fiscal 2022 revenue of US$6.22 billion was higher than the pre-pandemic level.
The earnings per diluted share were US$0.34, and on an adjusted basis, it was US$0.49 in the quarter, the international leader in premium lifestyle items said in its quarterly report.
In the same quarter in 2021, the earnings per diluted share were US$1.01, and the adjusted earnings per diluted share were US$0.38.
Ralph Lauren’s President and CEO Patrice Louvet said that their global teams did exceptionally well to deliver fourth-quarter and full-year results that exceeded expectations. He added that the company is making strides toward its long-term strategic commitments.
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RL’s net revenue ascended double digits of 18% to US$1.5 billion for the reported quarter. Its Q4 revenue in North America soared 19% to US$674 million. The wholesale revenue for North America was up 1% from last year.
Ralph Lauren’s fourth-quarter gross profit for fiscal 2022 was US$966 million whereas its gross margin remained at US$63.4%. Gross margin on an adjusted basis was 63.3% versus 62.9% in the year-ago quarter.
The New York-based company’s net income on a reported basis for Q4 FY 2022 was US$24 million or US$0.34 per diluted share. Its net income on an adjusted basis remained at US$36 million or US$0.49 per diluted share.
The company mentioned that inflation has not affected the spending power of the affluent and higher-income customers, which played a significant role in its earnings. The rich are spending high on fashion as they attend more social dos after more and more Covid-19 restrictions are being lifted around the world.
Ralph Lauren also anticipates higher sales and escalated margins for the year following a growing demand for its luxury clothing and accessories in North America and Europe.
Shares of Ralph Lauren rose nearly 2% in premarket trading on Tuesday, even though the broader market declined.