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Ralph Lauren revenue climbs 2% in FY19

23
May '19
Pic: Ralph Lauren
Pic: Ralph Lauren
For fiscal 2019, revenue of Ralph Lauren improved 2 per cent to $6.3 billion on a reported basis and 3 per cent in constant currency. While, the fourth quarter revenue declined 1.5 per cent to $1.5 billion on a reported basis and was up 1.2 per cent in constant currency. Foreign currency negatively impacted revenue growth in the fourth quarter.

In 2019, North America revenue decreased 1 per cent on both a reported and constant currency basis to $3.2 billion, including planned reduction in off-price sales, while retail comps were flat to last year. Revenue from Europe grew 5 per cent to $1.7 billion on a reported basis. In constant currency, revenue jumped 6 per cent, driven by wholesale and retail growth Asia revenue hiked 11 per cent to $1.0 billion on a reported basis. In constant currency, revenue increased 13 per cent with double-digit growth in retail and wholesale.

“This year we marked an incredible milestone for our business and our brands – 50 years of inspiration, passion and innovation,” said Ralph Lauren, executive chairman and chief creative officer. “As we celebrate our rich history, we are even more inspired and motivated to continue to build the future for our company, and I am so proud of the work our teams are doing to deliver for consumers around the world every day.”

The company also announced that its board of directors has declared a 10 per cent increase in the regular quarterly cash dividend on the company's common stock. The new quarterly cash dividend is $0.6875 per share for a total annual dividend amount of $2.75 per share. The next quarterly dividend is payable on July 12, 2019 to shareholders of record at the close of business on June 28, 2019.

"Our Next Great Chapter plan is off to a good start – in its first year, we outperformed our commitments across key metrics, including revenue, quality of sales, operating income and EPS,” said Patrice Louvet, president & chief executive officer. “It has been an exciting year of progress and continuous learning in our multi-year journey. We returned to revenue growth one year ahead of plan, average unit retail was better than we expected across all regions and channels as we continued to elevate the brand, and we saw particular strength across our international regions as we invested in product, marketing and distribution. Looking ahead, we will continue to put the consumer at the center of everything we do, elevate and energize our brands and drive operational efficiency to achieve long-term, sustainable growth and value creation.” (RR)

Fibre2Fashion News Desk – India


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