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Ralph Lauren forecasts higher sales despite market uncertainty

Jeremy Lim
24 May 2022

Ralph Lauren has revealed fourth quarter global revenue increased 18% year-over-year to £1.1 billion ($1.5 billion) for the period ending 2 April 2022.

The company reported a net profit of £19.5 million from a loss of £59.2 million a year earlier as it outperformed expectations with double-digit growth across all regions

For fiscal year 2022, the company reported that its full year revenue increase by 41% to £4.9 billion, exceeding pre-pandemic levels.

Ralph Lauren posted an annual net profit of $479 million from a net loss of £96 million a year earlier, whilst operating income came in at £638 million, including restructuring-related and other net charges of £26 million.

Looking ahead, the company continues to note the ongoing uncertainty and evolving situation surrounding COVID-19 and expects fiscal year 2023 constant currency revenues to increase in high single digits to last year on a 52-week basis, with its current outlook at around 8%.

Patrice Louvet, President and CEO of Ralph Lauren 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 Fiscal 2023.

"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."

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