Ralph Lauren Corporation (NYSE: RL) reported net revenue of $1.5 billion for the fourth quarter of 2023, up 1% year-over-year. Revenue increased 9% in constant currency.
Net income was $32 million, or $0.48 per share, compared to $24 million, or $0.34 per share last year. Adjusted net income was $61 million, or $0.90 per share.
For the first quarter of 2024, Ralph Lauren expects revenues to be flat to up slightly to last year on a constant currency basis. On a reported basis, revenues are expected to be down slightly to the prior year.
For FY2024, the company expects revenues to increase approx. low-single digits to last year on a constant currency basis.