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Global fashion firms report moderate to strong performance in Q1 FY24

RALPH LAUREN (NYSE: RL)

American brand Ralph Lauren ended its first quarter with revenues of $*.* billion, growing * per cent in constant currency though foreign currency negatively impacted revenue growth by ~** basis points. Among Ralph Lauren’s markets, North America decreased by ** per cent to $*** million in revenue, while Europe grew * per cent to $*** million and Asia ** per cent to $*** million, both on reported basis. The gross profit during the quarter stood at $*.* billion—gross margin being ** per cent. The adjusted gross margin was **.* per cent, up ** basis points on reported basis and *** basis points in constant currency. The net income of $*** million resulted in $*.** per diluted share on reported basis, and on adjusted basis, it stood at $*** million or $*.** per diluted share. In Q* FY**, net income was $*** million ($*.** per diluted share) on reported basis and $*** million ($*.** per diluted share) on adjusted basis.