31 August, 2022 - 02 September, 2022
18 September, 2022 - 20 September, 2022
20 September, 2022 - 22 September, 2022
18 October, 2022 - 20 October, 2022
Queestown, New Zealand
22 October, 2022 - 26 October, 2022
North Carolina, USA
The global fashion business has announced its FY2022 second quarter results, with reported revenues at US$1.5 billion, an increase of 26% year-on-year.
Revenue was driven by 38% growth in Europe and 30% in North America, while Asia lagged behind at 14%, though this region saw the highest growth in digital commerce at 69% over the previous financial year.
Operating expenses in the second quarter were US$755 million on an adjusted basis, up 17% from FY2021, primarily driven by higher compensation expenses following Covid-19 related staff furloughs and store closures, along with planned increased marketing investments.
Going forward, Ralph Lauren expects revenues to continue to grow despite ongoing Covid-19 complications and the potential for resurgences of the pandemic in various markets, and also forecasts continued high operating expenses for the rest of the financial year.
The company also expects to resume its share repurchase program starting in the second half of the current financial year.