Ralph Lauren reports strong sales results for Fourth Quarter, yet cautious about 2013
Ralph Lauren Corporation reports a 14% increase in revenues for the fourth quarter 2012 to $1.6 billion from $1.4 billion in the fourth quarter of Fiscal 2011. Net revenues for the full year Fiscal 2012 period increased 21% to $6.9 billion.
Fiscal 2012 sales of Ralph Lauren increased by 21% to $6.9 Billion, while Fourth Quarter sales grew 14% to $1.6 Billion. In a press statement, Roger Farah, President COO said: ”Much of our progress in Fiscal 2012 was achieved with market share and productivity gains in existing locations. As we look to the future, we believe we have significant potential to expand our distribution, particularly in international markets. And while we enter Fiscal 2013 excited about our global growth initiatives, we are cautious about near-term economic trends, particularly in Europe, and have planned the year accordingly.”
In the first quarter of Fiscal 2013, the Ralph Lauren Corporation expects consolidated net revenues to increase by a low single-digit percentage. Wholesale sales are expected to be flat to slightly below the prior year period, as strength in North America is offset by a decline in Europe, the continued transition of certain Japanese wholesale operations to directly operated concessions and the closure of certain wholesale operations in Greater China.