Ralph Lauren Corp. (RL) reported fourth-quarter of fiscal 2013 net income of $127.2 million, or $1.37 per share, up from $94.4 million, or $0.99 per share in the fourth quarter of Fiscal 2012. The increases in net income and net income per share were principally the result of the growth in operating income.
In the fourth quarter of Fiscal 2013, the company recorded approximately $6 million in pre-tax impairment and restructuring charges associated with winding down its Rugby operations.
Operating income for the fourth quarter of Fiscal 2013 was $182 million, 33% greater than the prior year. Operating margin was 11.1% of sales, 270 basis points stronger than the fourth quarter of Fiscal 2012, reflecting the higher gross profit margin and operating expense leverage.
Excluding the Rugby-related charges, net income rose 39% to $131 million and net income per diluted share increased 42% to $1.41 in the fourth quarter of Fiscal 2013.
Net revenues for the fourth quarter of Fiscal 2013 rose 1% to $1.6 billion, reflecting strong retail segment expansion that was partially offset by lower wholesale segment sales. Excluding the impact of strategic decisions to discontinue American Living and store closures associated with the Company's Greater China network repositioning efforts, in addition to the net negative impact from foreign currency translation, net revenues increased approximately 4% in the fourth quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.30 per share on revenues of $1.70 billion for the quarter. Analysts' estimates typically exclude special items.
In the first quarter of Fiscal 2014, the Company expects consolidated net revenues to increase by a low-single-digit percentage, including a 150 basis point net negative impact from foreign currency translation. Wholesale sales are expected to grow slightly faster than retail sales due to the transition of certain formerly licensed merchandise categories to directly controlled operations.
Operating margin for Fiscal 2014 is currently expected to be 25-75 basis points below the prior year's record level due to the integration of certain formerly licensed merchandise categories and geographic regions to directly controlled operations, accelerated investment in the Company's long-term growth initiatives and unfavorable foreign currency effects. Capital expenditures are planned at approximately $350-$450 million in Fiscal 2014.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.