Global fashion company Ralph Lauren has announced a modest revenue growth of 1% in the first quarter (Q1) of fiscal year 2025 (FY25), reaching $1.51bn – an increase from $1.49bn in Q1 FY24.
This comes despite the negative impact of foreign currency fluctuations.
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The company’s operating income saw a jump to $208.5m in Q1 FY25, up from $166.4m in Q1 FY24.
Ralph Lauren’s operating margin stood at 13.8% on a reported basis.
During the quarter ending 29 June 2024, the company’s net income was $168.5m, up from $132.1m in the first quarter of the previous fiscal year.
Its earnings per diluted share also increased, from $1.96 to $2.61 in Q1 FY25.
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By GlobalDataThe fashion company posted a gross profit of $1.06m in Q1 FY25, up from $1.03m in the corresponding quarter of the previous year.
Ralph Lauren president and chief executive officer Patrice Louvet said: “We delivered a solid start to the year, with first quarter performance exceeding our expectations on the top and bottom-line led by our direct-to-consumer and international businesses.
“The powerful combination of our brand strength and diverse growth drivers – together with our culture of agility and operating discipline – gives us confidence that our long-term strategy will continue to deliver even through these dynamic times.”
Looking ahead to the full fiscal year 2025, Ralph Lauren expects revenue growth in the low-single digits on a constant currency basis, aiming for around 2% to 3%.
However, foreign currency is projected to negatively impact revenue growth by around 150 basis points.
For the second quarter of the fiscal year, the company anticipates constant currency revenue growth in the low to mid-single digits, with expectations centred around 3% to 4%.
Capital expenditures for fiscal 2025 are forecasted to be between $300m and $325m.
In September 2023, Ralph Lauren opened a dedicated digital commerce platform and its first luxury store in Canada.
