Total profit for the fourth quarter was $ 966 million and gross margin was 63.4 percent. On a composite basis, the gross margin was 63.3 percent 62 62.9 percent over the same period last year In the fourth quarter, foreign exchange negatively affected the gross margin by 80 basis points. Gross margin expansion was primarily driven by increasing AUR across all regions as well as offset increased input costs from freight, raw materials and labor by changing favorable channels and geographic mix. Compared to FY20 in the fourth quarter, consistent gross margins have expanded by 420 basis points based on the report on strong AUR growth.
“From our recent fashion show to the launch of our powerful Morehouse and Spellman College collection, we continue to inspire people around the world to dream,” he said. Ralph Lauren, executive chairman and chief creative officer. “Whether it’s our clothing or how we think about our influence on the planet, we imprint what we do with an attitude of optimism and perseverance that gives people a sense of possibility.”
In the fourth quarter of fiscal year 2022, Ralph Lauren’s revenue grew 18 percent to $ 1.5 billion, according to the report, and fixed currency grew 22 percent. Foreign exchange negatively impacted revenue growth by about 360 basis points in the fourth quarter. For 2022, revenue grew 41 percent to $ 6.2 billion, according to the report.
“Our teams around the world have performed exceptionally well in delivering fourth-quarter and full-year results that exceeded our expectations as we continue to make progress on our long-term strategic commitment,” he said. Patrice Luvet, President and CEO. “We have laid the groundwork for healthy sustainable growth and value creation in FY 2023. As we continue to navigate in a highly dynamic global macroeconomic environment, our growth will be supported by the strength of our brand and multiple engines – from new high-value hiring to high-potential.” Consumers to develop product divisions and geographic and channel expansion. “
For fiscal year 2023, the company expects fixed currency revenue to grow at a much higher single digit than last year on a 52-week comparable basis, at our current outlook of about 8 percent. Based on the current exchange rate, foreign exchange is expected to negatively impact revenue growth by about 400 basis points in FY 2023. On a 53-week comparable basis, FY 2023 revenue growth is also expected to be negatively impacted by about 100 basis points. 53’s absencerd Weeks compared to the previous year.
Fibre2Fashion News Desk (RR)