- Ralph Lauren (NYSE:NYSE:RL) reports revenue was up 7% in constant currency in FQ4 vs. 1.1% reported.
- Sales in the retail segment fell 0.47% (+6% ex-currency) to $841M off of a double-digit e-commerce comp.
- Wholesale segment sales increased 2.4% to $1.01B (+8% ex-currency).
- Licensing revenue -5.3% to $37M.
- Gross margin rate dropped 80 bps to 55.4%.
- Operating expenses +4% to $854M.
- Operating margin rate declined 190 bps to 10.1%.
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FQ1 Guidance: Net revenues: to be flat in constant currency; Operating margin: -600 bps to -650 bps; Tax rate: 30%.
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FY2016 Guidance: Net revenues: increase by mid-single digits in constant currency; Operating margin: -180 bps to -230 bps; Tax rate: 30%; Capex: ~$400M to $500M.
- RL -2.21% premarket.