1. News
May 25, 2022

Ralph Lauren posts 41% growth in full-year revenue for FY22

The company expects its constant currency revenues for FY23 to increase in the high single digits from last year.

US-based fashion company Ralph Lauren has reported its net revenues for the fiscal year 2022 (FY22) increased by 41% to $6.2bn on a reported basis from the previous year.

During the 52 weeks to 2 April, the company’s North America revenue increased by 49% to $3.0bn, while in Europe and Asia, its revenue rose by 53% and 25% respectively on a reported basis.

Ralph Lauren recorded a full-year operating income of $798m, while its net income was $600m.

The company’s earnings per share (EPS) were $8.07 compared with a loss per common share of $1.65 in FY21.

Its gross profit for FY22 was $4.1bn on a reported basis, while its gross margin was 66.7%.

For the fourth quarter (Q4), Ralph Lauren’s net revenue on a reported basis was $1.5bn, up by 18% compared with the corresponding period of the previous year.

The company registered an operating income of $37m during the year, against an operating loss of $25.7m in the prior year.

For FY23, Ralph Lauren expects an increase in constant currency revenues around the high single digits.

The company also expects its operating margin to be between approximately 14.0% and 14.5% on a constant currency basis.

Ralph Lauren president and CEO Patrice Louvet said: “Our teams around the world executed exceptionally well to deliver fourth-quarter and full-year results that exceeded our expectations as we continued to progress on our long-term strategic commitments.

“We have laid the groundwork for healthy sustainable growth and value creation in FY23.

“As we continue to navigate a highly dynamic global macroeconomic environment, our growth will be supported by the strength of our brand and multiple engines — from recruiting new high-value consumers to developing high-potential product categories and geographic and channel expansion.”

Earlier this year, Ralph Lauren recorded revenue of $1.8bn for Q3 2022, up by 27% from a year earlier.