Ralph Lauren (NYSE:RL) reported first-quarter financial numbers Tuesday. The New York-based fashion icon today reported earnings per diluted share of $1.47 on a reported basis and $1.77 on an adjusted basis, excluding restructuring-related and other charges, for the first quarter of Fiscal 2020.
This compared to earnings per diluted share of $1.31 on a reported basis and $1.54 on an adjusted basis, excluding restructuring-related and other charges, for the first quarter of Fiscal 2019.
In the first quarter of Fiscal 2020, revenue increased by 3% to $1.4 billion on a reported basis and was up 5% in constant currency, driven by positive results across regions. Foreign currency negatively impacted revenue growth by approximately 220 basis points in the first quarter.
North American revenue for RL in the first quarter increased 3% to $719 million. North America wholesale revenue increased 2%. In retail, comparable store sales in North America were up 1%, driven by a 1% comp in brick and mortar stores and digital sales.
In Europe, revenue in the first quarter increased 2% to $361 million on a reported basis and 7% in constant currency. Europe wholesale revenue was flat on a reported basis and grew 5% in constant currency.
In retail, comparable store sales in Europe were up 4%, driven by a 2% increase in brick and mortar stores and a 22% increase in digital commerce.
Said Lauren himself, whose function within the corporation is Chief Creative Officer, "Our Company continues to evolve with the world around us while staying true to our values and creating inspiring style that endures."
Shares faded $3.92, or 3.5%, to $107.75
