US-based fashion retailer Ralph Lauren has reported that its results for the second quarter (Q2) of the fiscal year 2022 (FY22) exceeded expectations, with revenues up by 26% to $1.5bn on a reported basis.
The company registered double-digit growth across all regions, with Q2 revenues in North America, Europe and Asia up by 30%, 38% and 14% respectively.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Revenues from Ralph Lauren’s global digital ecosystem increased by almost 45%, while the company’s gross profit for the quarter was $1.015bn and its gross margin was 67.5%.
The company’s operating income for the quarter was $252m and its operating margin was 16.7% on a reported basis. On an adjusted basis, its operating income was $257m and its operating margin was 17.1%.
Ralph Lauren reported a net income of $193m, or $2.57 earnings for each diluted share, on a reported basis for Q2 2022.
This was an increase from the net loss of $39m, or $0.53 to a diluted share, in the same period of the previous year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataRalph Lauren president and CEO Patrice Louvet said: “We delivered another quarter of strong progress on our FY22 plan, with second-quarter results exceeding our expectations across all key financial, operating and consumer health metrics.
“Ralph Lauren remains on offence — our market share is growing, and we are increasing our investments to deliver on further opportunities for growth.
“Even as we continue to navigate a volatile global environment, we are confident in our ability to sustain our momentum.”
Ralph Lauren expects its revenues to rise by around 14% to 16% on a constant currency basis for Q3, with an increase of around 34% to 36% for the full year.
Earlier this year, the company agreed to sell its high-end casual clothing store chain Club Monaco to private equity company Regent.
The sale was prompted by a strategic review of Ralph Lauren’s brand portfolio and part of its strategic realignment plan for the year.
