Ralph Lauren Corporation, a global leader in the design, marketing, and distribution of premium lifestyle products, has reported its financial results for the fourth quarter and full year fiscal 2017.
The retailer’s revenue decreased 16 per cent to US $ 1.6 billion in the quarter; excluding the impact of foreign currency and on a 13-week to 13-week basis, revenue was down 12 per cent to last year.
For the quarter reported, international revenue also dropped 9 per cent while North America revenue was down 21 per cent to last year; retail revenue in the fourth quarter plunged 16 per cent to US $ 745 million; licensing revenue in the fourth quarter however surged 7 per cent to US $ 43 million. Gross profit for the company was US $ 819 million on a reported basis. Operating loss reached US $ 268 million, the company said in the press release issued.
For full year 2017, revenue decreased 10 per cent to US $ 6.7 billion; retail revenue in tumbled 6 per cent to US $ 3.7 billion; licensing revenue was US $ 173 million, 1 per cent below 2016.
Also Read – Ralph Lauren out with is Q2 FY ’17 results
“The retail landscape today is more dynamic than ever, but within this environment, our brand continues to be one of the most recognized and beloved all over the world. Our performance for the year reflects our work to strengthen our brand,” said Ralph Lauren, Executive Chairman and Chief Creative Officer.
