Ralph Lauren (RL) Tops Q1 EPS by 21c
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Ralph Lauren Reports First Quarter Fiscal 2024 Results and Reiterates Full Year Outlook
August 10, 2023 8:01 AM EDTFirst Quarter Revenue Increased Slightly on a Reported Basis and 1% in Constant Currency, Ahead of Expectations, Led by Asia and Europe Global Direct-to-Consumer Comparable Store Sales Grew Low-Single Digits in the Quarter, Driven by Strong Full-Price Retail Performance and Double-Digit AUR Growth Delivered Gross Margin Expansion, Resulting in Operating Margin and Double-Digit EPS Growth Above Our Expectations, with Continued Brand Elevation More than Offsetting Peak Product Cost Headwinds Maintained Healthy Balance Sheet with $1.7 Billion in Cash and Short-Term Investments and Inventory Growth of 1% Reiterated Full Year Fiscal 2024 Outlook of Low-Single... More
