The company repurchased approximately $300 million of Class A Common Shares in the third quarter. In addition, the company’s board of directors has authorized a new $1.5 billion share buyback program that allows the company to purchase shares of Class A Common Stock, subject to business conditions. business and the overall market. This, plus the $280 million available at the end of the third quarter of fiscal 2022 as part of a previously authorized share buyback program, brings the company’s current total authorized funds to $1. $.78 billion, Ralph Lauren said in a press release.
“What we do has always been to live – enjoy every moment from what you wear, the way you live, to the way you love it,” Ralph Lauren, executive chairman and creative director. “And as we move into a new year, filled with hope for more connection and healing as people and our planet, I am inspired by the way our teams and people around the world are connecting with what we are – the timeless and the authentic life – lived.”
In Q3 (Q3) of fiscal 2022, leading fashion brand Ralph Lauren’s net revenue increased 27% to $1.8 billion on a reported basis and up 28% in currency terms. unchanged. Foreign currency negatively impacted the company’s revenue growth by about 150 basis points in the third quarter of fiscal 2022.
Ralph Lauren delivered strong growth in every region during the quarter, exceeding expectations with North America growing by 30%, Europe by 50% and Asia by 20% year over year in single currency. unchanged. All three regions returned to positive growth relative to pre-pandemic levels in the third quarter of fiscal 2020
“We’re pleased to report strong Q3 results during the important holiday season,” Patrice Louvet, President and CEO. “Our better-than-expected results across all three regions are testament to the outstanding work our team has done to fundamentally reposition our business, enhancing our brand. me and towards the onslaught – including in North America, where our transformation is well underway. With the major reset work behind us, we’re encouraged that our long-term growth is supported by multiple engines – from geographic and channel expansion to recruiting qualified consumers. new high value and develop high potential product categories. “
For fiscal year 2022, the company now expects constant currency revenue growth of about 39% to 41% year over year on a 53-week reporting basis, compared with its previous outlook for growth. 34% to 36%. Foreign currency is expected to negatively impact revenue growth by around 70 basis points.
The company also raised its operating margin outlook for fiscal 2022 to around 13% on both reported and fixed currency basis, from 12.0% to 12.5% previously. This compares to operating margins of 4.8% in the year-ago period and 10.3% in fiscal 2020.
Fiber2 fashion news desk (RR)
