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Polo Ralph reports Q4 & full year fiscal 2008 results

28
May '08

"I am proud of the progress our Company made during the year considering the significant challenges that emerged in the second half. Our business has endured through good times and bad, something I attribute to our singularity of purpose and vision, our dedication to superior quality and design, a deep understanding of our customer and a consistent investment in advertising and brand messaging. As we enter this new fiscal year amidst uncertainty, I remain proud of our heritage and excited about the future," Mr. Lauren added.

"I believe the strength of our fourth quarter and full year results is particularly noteworthy since they were achieved even as we made significant investments in long-term initiatives, all in the context of an extremely difficult domestic retail environment," said Roger Farah, President and Chief Operating Officer.

"The likelihood that the consumer will continue to face significant challenges in the year ahead is not something that we can control. Nevertheless, I remain confident in the relevance of our strategy and our portfolio of brands, the dedication of our talented team, the strength of our balance sheet and our ability to continue to generate excellent returns for our shareholders over the long term."

Fourth Quarter and Full Year Fiscal 2008 Income Statement Review:
Net Revenues. Net revenues for the fourth quarter increased 20% to $1.24 billion, compared to $1.03 billion for the comparable prior year period.Excluding the impact of recent non-comp acquisitions (Impact 21 Co Ltd (Impact 21), a former Japanese sub-licensee and the remaining interest in Polo Ralph Lauren Japan Corporation as well as New Campaign Inc (New Campaign), the Company's former small leathergoods licensee in the U.S.), fourth quarter net revenues increased 14%.

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