In the fourth quarter of the 2021 fiscal year, Ralph Lauren revenues increased by 1% to US$1.29 billion, with growth in Asia and Europe at 5% and 35% respectively. However, North American revenue in the fourth quarter decreased 10% to US$569 million. Global digital commerce sales also increased to 52%.

For the full 2021 fiscal year, marketing increased to 6.0% of total revenues, up from 4.5% last year, to support our brand elevation and drive consumer engagement, resulting in accelerated growth in global brand awareness and purchase intent

Revenue decreased 29% to US$4.4 billion on a reported basis and decreased 30% in constant currency, driven primarily by widespread Covid-related shutdowns and other disruptions throughout the year.

The company ended the 2021 fiscal year with US$2.8 billion in cash and investments and US$1.6 billion in total debt. Inventory was US$759 million, up 3% compared to the prior year period.

For the 2022 fiscal year, Ralph Lauren expects constant currency revenues to increase approximately 20% to 25% year-on-year, while foreign currency is expected to negatively impact revenue growth.

The company has also revealed its plan to reinstate quarterly cash dividends on its common stock, previously suspended during the height of the Covid-19 pandemic. The quarterly cash dividend is US$0.6875 per share for a total annual dividend amount of US$2.75 per share, next payable on July 9, 2021 to shareholders at the close of business on June 25, 2021.