Ralph Lauren Corporation (USA) reported financial results for its fourth quarter fiscal 2020 and full year fiscal 2020.
Q4 Fiscal 2020 (ended March 28, 2020)
- Q4 of Fiscal 2020, revenue declined 15% to $1.3 billion on a reported basis and was down 14% in constant currency.
- North America revenue in the fourth quarter decreased 11% to $629 million (brick and mortar -15%; e-commerce -7%)
- Europe revenue in the fourth quarter decreased 19% to $353 million on a reported basis and decreased 16% to last year in constant currency (brick and mortar -18%; e-commerce -2%)
- Asia revenue in the fourth quarter decreased 22% to $214 million on a reported basis and decreased 21% in constant currency (same-store sales -23%; e-commerce +15%)
- Operating loss for the fourth quarter of Fiscal 2020 was $284 million on a reported basis, including restructuring-related and other charges of $241 million, compared with operating income of $96 million in Q4 2019.
- Fourth Quarter Average Unit Retail Increased 8% Driven by Ongoing Brand Elevation and Quality of Sales Initiatives
Full Year Fiscal 2020
- For Fiscal 2020, revenue decreased 2% to $6.2 billion on a reported basis and decreased 1% in constant currency.
- North America Revenue. For Fiscal 2020, North America revenue decreased 2% on a reported basis to $3.1 billion.
- Europe Revenue. For Fiscal 2020, Europe revenue decreased 3% to $1.6 billion on a reported basis. In constant currency, revenue increased 1%.
- Asia Revenue. For Fiscal 2020, Asia revenue decreased 2% to $1.0 billion on a reported basis. In constant currency, revenue decreased 1%.
- Operating expenses were $3.3 billion on a reported basis, including $155 million in restructuring-related and other charges.
- Operating income for Fiscal 2020 was $317 million, including restructuring-related and other charges of $315 million.
- Strengthened Balance Sheet and Near-Term Liquidity with over $2 Billion in Cash & Investments and Key Expense Reduction Actions
