Ralph Lauren Corporation has reported its first quarter of fiscal year 2020 results.
The report includes earnings per diluted share of $1.47 on a reported basis and $1.77 on an adjusted basis, excluding restructuring-related and other charges, for the first quarter of fiscal 2020. This compared to earnings per diluted share of $1.31 on a reported basis and $1.54 on an adjusted basis, excluding restructuring-related and other charges, for the first quarter of fiscal 2019.
“Our company continues to evolve with the world around us while staying true to our values and creating inspiring style that endures,” said Ralph Lauren, executive chairman and chief creative officer. “And more than 50 years in, I am very encouraged by the work we are doing to strengthen the foundations of our business, energize our teams and elevate our iconic brands.”
The key takeaways from Ralph Lauren’s first quarter fiscal 2020 results include:
- First quarter revenues grew 3% to $1.4 billion
- Earnings per diluted share increased double-digits on both a reported and adjusted basis
- Operating margins increased 60 basis points on a reported basis and 110 basis points on an adjusted basis
- The company repurchased 1.3 million shares of class a common stock during the first quarter
“We delivered first quarter results in line with our overall expectations, with better than expected operating margin and double-digit EPS growth,” said Patrice Louvet, president and CEO. “Our performance was driven by strong continued momentum in our international markets and expense discipline across the organization, while we continued to invest in elevating our brands and stabilize our North America business against a more volatile backdrop.”
To view the company’s entire Q1 report, visit here.