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Ralph Lauren delivers solid performance in FY'12
May '12
Ralph Lauren Corporation reported net income of $94 million, or $0.99 per diluted share, for the fourth quarter of Fiscal 2012, compared to net income of $73 million, or $0.74 per diluted share, for the fourth quarter of Fiscal 2011. Net income for Fiscal 2012 was $681 million, or $7.13 per diluted share, compared to net income of $568 million, or $5.75 per diluted share, for Fiscal 2011.

The Company also announced that its Board of Directors declared a 100% increase in the regular quarterly cash dividend on the Company's Common Stock. The new quarterly cash dividend is now $0.40 per share. Over the next year, the new annual dividend amount will be $1.60 per share and result in an anticipated annualized payout of approximately $150 million. The next quarterly dividend is payable on July 13, 2012 to shareholders of record at the close of business on June 29, 2012.

“Fiscal 2012 was another year of spectacular growth for our Company,” said Ralph Lauren, Chairman and Chief Executive Officer. “We made significant progress with our international expansion efforts and we launched exciting new products during the year.

“I am thrilled with the momentum we are gaining with our handbags worldwide and we will continue to invest in innovation and distribution to support this high growth merchandise category. We are in the midst of transforming our presence in Greater China, a region that we believe will become an important driver of growth for us over the long term, and have some magnificent new stores planned for the next several years.

“As proud as I am of what we've accomplished, I am even more excited about the many compelling opportunities that are still ahead for us,” Mr. Lauren added.

“Sales and profit growth exceeded 20% in Fiscal 2012, which is an acceleration of a multi-year trend of double-digit gains even as we've consistently reinvested in the business,” said Roger Farah, President and Chief Operating Officer.

“Our Fiscal 2012 performance is particularly noteworthy considering the unprecedented raw materials cost inflation and highly uncertain market conditions that persisted throughout the year. Much of our progress in Fiscal 2012 was achieved with market share and productivity gains in existing locations.

“As we look to the future, we believe we have significant potential to expand our distribution, particularly in international markets. And while we enter Fiscal 2013 excited about our global growth initiatives, we are cautious about near-term economic trends, particularly in Europe, and have planned the year accordingly.

“Whatever the near-term challenges may be, they do not alter our long-term growth expectations and our commitment to investing to support those goals. The doubling of our dividend is a clear indication of our Board's recognition of our strong performance, liquidity metrics and long term plans, in addition to our commitment to enhancing shareholder returns.”

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Ralph Lauren Corporation

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