(CercleFinance.com) – Ralph Lauren today announced its results for the fourth quarter and fiscal year 2023.
Driven by Asia and Europe, fourth quarter revenue was $1.5 billion, up 1% on a reported basis and 9% in constant currency and full year revenue was 6.4 billion dollars, up 4% (reported) and 10% in constant currencies.
Gross profit for the fourth quarter of fiscal 2023 was $951 million and gross margin was 61.7%. Earnings per diluted share of $0.48 on a reported basis and $0.90 on an adjusted basis, excluding charges, for the fourth quarter of fiscal 2023.
Gross profit for fiscal year 2023 was $4.2 billion on a reported basis and gross margin was 64.6%. Net income was $523 million or $7.58 per diluted share (reported basis). On an adjusted basis, $576 million, or $8.34 per diluted share.
For fiscal 2024, the company expects revenue to grow in mid-single digits from last year on a constant currency basis. Based on current exchange rates, foreign currencies are expected to support revenue growth by approximately 20 basis points in fiscal 2024.
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