(Tiper Stock Exchange) – Ralph Laurena US company active in the apparel sector, which closed on first quarter of fiscal 2024 (ended July 1, 2023) with revenues up slightly to $1.5 billion (+1% at constant currency). Foreign currency negatively impacted revenue growth by approximately 80 basis points. L’gross profit was $1 billion and the gross margin was 69%. Adjusted gross margin was 68.8%, 80 basis points above the prior year (+130 basis points in constant currency).
L’Net income it was $132 million, or $1.96 per share. On an adjusted basisnet income was $158 million, or $2.34 per share, compared to $135 million, or $1.88, in the first quarter of fiscal 2023.
The analysts they expected average earnings per share of $2.13 on revenues of $1.48 billion, according to Refinitiv data.
“Our solid first quarter performance highlights the unique strength and relevance of our iconic brand with consumers around the world coupled with our diversified growth drivers, and we are reaffirming our full-year outlook,” said Patrice Louvet, president and CEO.
for thefiscal year 2024the society keep predicting that revenues will increase at a low-single digit rate year over year on a constant currency basis and that operating margin will expand approximately 30-50 basis points on a constant currency basis, driven by gross margin expansion.
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