Ralph Lauren Corp (NYSE: RL) reported Q4 EPS of $1.68, $0.05 better than the analyst estimate of $1.63. Revenue for the quarter came in at $1.83 billion versus the consensus estimate of $1.83 billion.

Revenue highlights:

• Wholesale Sales. Wholesale segment sales increased 24% to $983 million in the fourth quarter, fueled by broad-based growth in the Americas, including strong demand for accessories; the contribution from the newly transitioned Chaps men’s sportswear operations; and double-digit growth in Europe.For Fiscal 2014, wholesale revenues were $3.5 billion, 11% above Fiscal 2013. The increase in wholesale revenues was primarily a result of strong momentum in the Americas and the contribution from newly transitioned operations.

• Retail Sales. Retail sales rose 5% to $845 million from $805 million in the fourth quarter of Fiscal 2013, driven by growth in international operations and global store expansion, including newly transitioned operations in Australia/New Zealand. Excluding the impacts of discontinued businesses and net negative foreign currency effects, retail sales rose 7% from the prior year period. Consolidated comparable store sales declined 2% on a reported basis and were down 1% in constant currency during the fourth quarter, reflecting the cold and late start to Spring in North America and the shift in the timing of Easter compared to the prior year.Retail sales for Fiscal 2014 were up 5% to $3.8 billion from $3.6 billion in Fiscal 2013, driven by the contribution from global store expansion, double-digit growth in e-commerce and incremental sales from the newly transitioned Australia/New Zealand operations. Excluding the impacts of discontinued businesses and net negative foreign currency effects, retail sales rose 8% from the prior year period. During Fiscal 2014, consolidated comparable store sales were flat on a reported basis and were up 1% in constant currency.

• Licensing. Licensing revenues of $39 million in the fourth quarter were 10% below the prior year period, as higher licensing revenues for Ralph Lauren products were more than offset by lower Chaps and Australia/New Zealand licensing revenues due to recent license take-backs.Licensing revenues of $166 million in Fiscal 2014 were 9% below Fiscal 2013’s level, as higher licensing revenues for Ralph Lauren products were more than offset by lower Chaps and Australia/New Zealand licensing revenues due to recent license take-backs.

Fiscal 2015 Outlook

The Company currently expects consolidated net revenues for Fiscal 2015 to increase by 6%-8%. Operating margin for Fiscal 2015 is currently expected to be 75-125 basis points below the prior year’s level due to continued investment in the Company’s global retail development and infrastructure, in addition to increased advertising and marketing expense. The full year Fiscal 2015 tax rate is estimated at 30%. Capital expenditures are planned at approximately $400-$500 million in Fiscal 2015.

In the first quarter of Fiscal 2015, the Company expects consolidated net revenues to increase by 3%-5%, led by retail segment growth. Operating margin for the first quarter of Fiscal 2015 is expected to be approximately 300-350 basis points below the comparable prior year period, primarily due to the timing of investments to support the Company’s strategic growth objectives. The first quarter tax rate is estimated at 30%.

For earnings history and earnings-related data on Ralph Lauren Corp (RL) click here.