(AOF) – High-end American clothing brand, Ralph Lauren publishes for the first quarter of its 2023-2024 financial year adjusted EPS of 2.34 dollars, up 24.5% year-on-year. Over this period, its adjusted net profit rose from 135 to 158 million dollars in one year. Its turnover increased slightly by 1% at constant exchange rates to reach 1.5 billion dollars. Foreign currencies negatively impacted revenue growth by approximately 80 basis points in the first quarter.
Adjusted operating profit was $200 million and operating margin was 13.4%, 70 basis points higher than a year earlier.
The company ended the first quarter of fiscal 2023-24 with $1.7 billion in cash and short-term investments and $1.1 billion in total debt, compared to $1.8 billion and 1 $.1 billion, respectively, at the end of the first quarter of fiscal year 2022-23.
For the 2023-2024 fiscal year, Ralph Lauren expects revenue to increase by approximately 1-3% over the prior fiscal year, at constant exchange rates. Based on current exchange rates, the group now expects foreign currency to negatively impact revenue growth by approximately 20 basis points in fiscal 2024.
It continues to expect the operating margin to increase by around 30 to 50 basis points at constant currency.
The operating margin for the second quarter should be between 9 and 9.5% at constant exchange rates.
The company now expects capital expenditures of around $250-275 million.
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