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Ralph Lauren Reports Better-Than-Expected First Quarter Fiscal 2015 Profits
First Quarter Net Revenues Increased 3% to $1.7 Billion, Led by Strong Retail Segment Growth
Operating Margin of 14.3% Reflects Investments in Growth Initiatives and Disciplined Operational Management
Earnings Per Diluted Share Was $1.80 in the First Quarter
The Company Repurchased 1.2 Million Shares of Class A Common Stock During the First Quarter
NEW YORK--(BUSINESS WIRE)--Aug. 6, 2014-- Ralph Lauren Corporation (NYSE:RL) today reported net income of $162 million, or $1.80 per diluted share, for the first quarter of Fiscal 2015, compared to net income of $181 million, or $1.94 per diluted share, for the first quarter of Fiscal 2014.
“Our first quarter results demonstrate that we are making the right strategic decisions and investments to support our long-term growth objectives,” said Ralph Lauren, Chairman and Chief Executive Officer. “Later this month, we’ll mark an important milestone for the Polo brand with the introduction of Polo for women. That launch will be supported by the opening of our first Polo flagship store in New York City. This Fall, we’ll open a 20,000-square-foot Ralph Lauren luxury flagship store in Greater China, a critical brand expression in an important market for us. As exciting as these first steps are now, the long-term potential is even more compelling.”
“Our better-than-expected first quarter profitability reflects excellent progress on our strategic initiatives, including double-digit revenue growth for our international and global e-commerce operations,” said Jacki Nemerov, President and Chief Operating Officer. “I am proud of the team’s ability to navigate challenging market conditions while building robust platforms for sustainable growth over the long term. We’re supporting the growing global appeal of our brands and products with prudent investments in world-class shopping environments; advertising and marketing; and our infrastructure.
First Quarter Net Revenues Increased 3% to $1.7 Billion, Led by Strong Retail Segment Growth
Operating Margin of 14.3% Reflects Investments in Growth Initiatives and Disciplined Operational Management
Earnings Per Diluted Share Was $1.80 in the First Quarter
The Company Repurchased 1.2 Million Shares of Class A Common Stock During the First Quarter
NEW YORK--(BUSINESS WIRE)--Aug. 6, 2014-- Ralph Lauren Corporation (NYSE:RL) today reported net income of $162 million, or $1.80 per diluted share, for the first quarter of Fiscal 2015, compared to net income of $181 million, or $1.94 per diluted share, for the first quarter of Fiscal 2014.
“Our first quarter results demonstrate that we are making the right strategic decisions and investments to support our long-term growth objectives,” said Ralph Lauren, Chairman and Chief Executive Officer. “Later this month, we’ll mark an important milestone for the Polo brand with the introduction of Polo for women. That launch will be supported by the opening of our first Polo flagship store in New York City. This Fall, we’ll open a 20,000-square-foot Ralph Lauren luxury flagship store in Greater China, a critical brand expression in an important market for us. As exciting as these first steps are now, the long-term potential is even more compelling.”
“Our better-than-expected first quarter profitability reflects excellent progress on our strategic initiatives, including double-digit revenue growth for our international and global e-commerce operations,” said Jacki Nemerov, President and Chief Operating Officer. “I am proud of the team’s ability to navigate challenging market conditions while building robust platforms for sustainable growth over the long term. We’re supporting the growing global appeal of our brands and products with prudent investments in world-class shopping environments; advertising and marketing; and our infrastructure.