Ralph Lauren Corporation (NYSE: RL) reported second quarter 2024 earnings results today.
Revenue increased 3% to $1.6 billion on a reported basis and was up 2% in constant currency.
Global direct-to-consumer comparable store sales grew 6%.
Net income was $147 million, or $2.19 per share, compared to $151 million, or $2.18 per share, last year. Adjusted EPS was $2.10 versus $2.23 last year.
Revenue in North America decreased 1% to $718 million.
Revenue in Europe increased 7% to $527 million on a reported basis and was flat in constant currency.
Asia revenue increased 10% to $348 million on a reported basis and 13% in constant currency.
For the third quarter of 2024, Ralph Lauren expects revenue to be up approx. 1-2% to last year in constant currency.
For fiscal year 2024, the company expects revenues to increase approx. low-single digits to last year on a constant currency basis, centering around 1-2%.