Home / Knowledge / News / Apparel/Garments / Full year results much better than we expected, Polo Ralph
Full year results much better than we expected, Polo Ralph
26
May '11
Polo Ralph Lauren Corporation reported net income of $73 million, or $0.74 per diluted share, for the fourth quarter of Fiscal 2011, compared to net income of $114 million, or $1.13 per diluted share, for the fourth quarter of Fiscal 2010. Net income for Fiscal 2011 was $568 million, or $5.75 per diluted share, compared to net income of $480 million, or $4.73 per diluted share, for Fiscal 2010.

Results for the fourth quarter and full year Fiscal 2011 periods included 13 and 52 weeks, respectively, while the same periods in Fiscal 2010 included 14 and 53 weeks, respectively. The 53rd week contributed approximately $70 million to fourth quarter and full year Fiscal 2010 net revenues and approximately $0.13 in earnings per diluted share for the same periods. As expected, other calendar shifts, including the timing of Easter and the week between Christmas and the New Year, impact the comparability of reported sales and profit results with the prior year period.

"We reported record sales and earnings in Fiscal 2011 while strengthening our foundation for powerful long-term growth," said Ralph Lauren, Chairman and Chief Executive Officer.

"During the year, we opened important flagship stores in some of the world's premier cities. These stores showcase our luxury lifestyle sensibility and reinforce the clarity and consistency of our brand expression to the most discerning customers. We also completed the last stage of acquiring our Asian operations, and we are redefining how our brand is presented in this important region of the world. Assuming more direct control of our operations around the world and extending our brands into exciting new merchandise categories has enabled us to generate strong, consistent returns for our shareholders. As we look to the future, the scope of our opportunities across products, channels and geographies is incredibly invigorating," Mr. Lauren added.

"Our full year results were much better than we expected, reflecting the incredible momentum of the Ralph Lauren brand around the world," said Roger Farah, President and Chief Operating Officer. "Strong underlying trends continued in the fourth quarter, although several calendar shifts distort comparability with the prior year period. We enter Fiscal 2012 with excellent momentum in our core operations and a unique opportunity to accelerate investment in our most compelling long-term growth initiatives, particularly in international markets.

"Even though we face real sourcing cost pressure during the year and the impact of impending inflationary pressure on the consumer is unknown, our brands are strong and we have a culture of tremendous operational discipline. We remain steadfast with our proven strategy of consistent investment in our growth initiatives to support long-term shareholder value creation."

Click here for more details

Polo Ralph Lauren Corporation


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search