Ralph Lauren, better than expected fiscal 2015 second quarter results
Ralph Lauren reports a net income of $201 million, for the second quarter of Fiscal 2015, compared to net income of $205 million,for the second quarter of Fiscal 2014.
“It’s been an incredibly active and exciting last few months for our Company,” said Ralph Lauren, Chairman and Chief Executive Officer. “We achieved several critical goals, including the launch of Polo for women, the opening of our first Polo flagship store on Fifth Avenue, and our first dual-gender Ralph Lauren flagship in Greater China. Our sustained focus on expanding our international presence, extending our global retail reach and innovating with new products has always served us well. I believe the investments we are making today will create significant value for shareholders over the long term.”
Net revenues for the second quarter of Fiscal 2015 increased 4% to $2.0 billion led by retail segment expansion, including double-digit international growth. Wholesale segment sales were $943 million in the second quarter of Fiscal 2015, 2% above the prior year period, reflecting growth in all geographic regions. Retail sales rose 7% to $1.0 billion in the second quarter, led by double-digit growth internationally and for global e-commerce operations. Consolidated comparable store sales increased 1% on both a reported and constant currency basis during the second quarter.
Licensing revenues of $45 million in the second quarter were 2% above the prior year period, reflecting higher royalties from increased sales of Ralph Lauren products. Gross profit for the second quarter of Fiscal 2015 increased 4% to $1.1 billion. Operating expenses of $846 million in the second quarter were 7% greater than the prior year period.