Ralph Lauren Q1 top and bottom line beat Street

7/31/2018
Ralph Lauren Corp. came out of the gate running, reporting first-quarter earnings and revenue that topped expectations amid its ongoing efforts to sell more products at full cost and keep expenses in line.

Net income rose to $109.0 million, or $1.31 per share, from $59.5 million, or 72 cents per share, in the year-ago period. Adjusted EPS was $1.54.

Revenue rose 3.2% to $1.39 billion. North American revenue fell 2%, with wholesale revenue falling due to a deliberate decision to exit select distribution channels, while revenue in Europe and Asia increased. The company said its average unit retail across its direct-to-consumer network was up 8% through improved full-price selling and lower discounts. Also, digital sales outpaced overall growth and are on track to achieve its long-term goals.

“We are off to an encouraging start to the new fiscal year on both the top and the bottom line,” said Ralph Lauren president and CEO Patrice Louvet. “Guided by our three core principles of putting the consumer at the center of all we do, elevating and energizing our brand and balancing productivity and growth, we are on track to return the company to long-term, sustainable growth and value creation.”
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