Ralph Lauren (NYSE:RL) is a New York-based company that is engaged in the design, marketing, and distribution of lifestyle products in North America, Europe, Asia, and around the world. Shares of Ralph Lauren rose 3.27% on Thursday, May 23, 2024. Meanwhile, the stock has increased 16% in the year-to-date period and an impressive 57% year over year. Its recent earnings release proved to be the catalyst for its latest uptick.
The company released its fourth quarter (Q4) and full-year fiscal 2024 earnings on the same day. In Q1 FY2024, Ralph Lauren reported revenue growth of 2% to $1.6 billion. That beat out analyst estimates of $1.55 billion. Meanwhile, adjusted earnings per share (EPS) reached $1.71 compared to the expected $1.65.
For the full year, the company posted total revenues of $6.6 billion. That was in line with estimates. However, adjusted EPS came in at $10.31 for the full-year fiscal 2024, which beat out estimates of $10.25.
The board of directors for Ralph Lauren approved a 10% increase to its dividend. It now offers a quarterly cash dividend of $0.825 per share for a total annual dividend of $3.30 per share. Looking ahead, the company expects revenue to be down slightly year-over-year in Q1 fiscal 2025. Meanwhile, it is projecting approximately 50 basis points of negative impact from the earlier timing of Easter this year. That benefitted Q4 results.
Shares of Ralph Lauren currently possess a favourable price-to-earnings ratio of 19. Meanwhile, it has continued to deliver strong earnings growth in the post-pandemic years.
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