NYSE$RL
Ralph Lauren Corp · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Ralph Lauren's Q4 2022 earnings exceeded expectations with double-digit revenue growth across all regions and significant operating margin expansion.
Ralph Lauren reported strong Q4 and full-year fiscal 2022 results, exceeding expectations. Q4 revenue increased by 18% to $1.5 billion, with adjusted EPS at $0.49. Full-year revenue reached $6.22 billion, surpassing pre-pandemic levels. The company's performance was driven by strong growth in North America, Europe, and Asia.
- Fourth quarter revenues outperformed outlook with double-digit growth across all regions.
- Full year fiscal 2022 revenues exceeded fiscal 2020 pre-pandemic levels.
- North America post-reset turnaround strongly underway with full year revenues increasing 49% and significant operating margin expansion.
- Delivered better than expected fourth quarter and full year adjusted operating margin and full year operating profit growth of more than 30% to fiscal 2020.
Headline financials
Revenue & EPS history
Ralph Lauren · Revenue · Quarterly
$1.52B
Revenue by segment
Ralph Lauren · $1.52B total across 4 segments · Q4 2022
- North America$674M+18.5%44.3%
- Europe$467M+26.3%30.7%
- Asia$346M+19.6%22.7%
- Other$34.9M-40.3%2.3%
Forward guidance
The Company expects constant currency revenues to increase approximately high single digits to last year on a 52-week comparable basis, with our current outlook at around 8%.
Tailwinds
- Company expects constant currency revenues to increase approximately high single digits to last year on a 52-week comparable basis, with our current outlook at around 8%.
- The Company expects operating margin for Fiscal 2023 in a range of approximately 14.0% to 14.5% in constant currency.
- Gross margin is expected to increase 30 to 50 basis points in constant currency on a 52-week comparable basis, with stronger AUR and favorable product and channel mix more than offsetting higher freight and product cost inflation.
- For the first quarter, the Company expects revenue growth will be in a range centered around 8% in constant currency to last year.
- First quarter of Fiscal 2023 tax rate is expected to be about 24% to 25%.
Headwinds
- Based on current exchange rates, foreign currency is expected to negatively impact revenue growth by approximately 400 basis points in Fiscal 2023.
- On a 53-week comparable basis, Fiscal 2023 revenue growth is also expected to be negatively impacted by approximately 100 basis points due to the absence of the 53rd week compared to the prior year.
- Foreign currency is expected to negatively impact operating margin by approximately 130 basis points in Fiscal 2023.
- Foreign currency is expected to negatively impact gross margins by approximately 110 basis points in Fiscal 2023.
- Foreign currency is expected to negatively impact first quarter operating margin by approximately 130 basis points in the first quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2022
+1.3%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+2.6%
Avg return
30 days after
52%
36 / 69 earnings
Positive
+20.8%
Q2 2016
Best reaction
-24.5%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +12.6% | +14.2% | +25.2% | |
| Q3 2026 | -4.5% | +0.4% | -4.6% | |
| Q2 2026 | -0.6% | +5.3% | +16.3% | |
| Q1 2026 | -6.4% | -1.1% | +3.0% | |
| Q4 2025 | +1.1% | +4.5% | -3.5% | |
| Q3 2025 | +9.7% | +9.3% | -6.6% | |
| Q2 2025 | +7.0% | +0.7% | +10.9% | |
| Q1 2025 | -2.0% | -3.6% | +4.8% | |
| Q4 2024 | +5.6% | +10.4% | +11.2% | |
| Q3 2024 | +18.9% | +19.2% | +19.6% | |
| Q2 2024 | +3.3% | +2.2% | +16.7% | |
| Q1 2024 | -5.5% | -6.9% | -9.0% | |
| Q4 2023 | +4.2% | +1.0% | +10.5% | |
| Q3 2023 | +1.0% | +4.3% | -3.2% | |
| Q2 2023 | +15.7% | +15.1% | +19.1% | |
| Q1 2023 | -5.6% | -2.3% | -6.9% | |
| Q4 2022 | +3.0% | +8.7% | +2.6% | |
| Q3 2022 | +4.4% | +9.7% | +2.1% | |
| Q2 2022 | -5.2% | -1.7% | -8.2% | |
| Q1 2022 | +4.4% | +4.4% | -0.4% | |
| Q4 2021 | -7.6% | -7.2% | -13.4% | |
| Q3 2021 | +3.1% | +4.9% | +16.2% | |
| Q2 2021 | -10.0% | -7.0% | +18.4% | |
| Q1 2021 | -1.7% | -5.4% | +6.4% | |
| Q4 2020 | -1.7% | -5.7% | -16.8% | |
| Q3 2020 | +8.2% | +6.4% | -4.5% | |
| Q2 2020 | +12.8% | +10.4% | +10.7% | |
| Q1 2020 | -6.3% | -11.1% | -20.9% | |
| Q4 2019 | -2.2% | -4.9% | -4.8% | |
| Q3 2019 | +10.1% | +9.1% | +7.7% | |
| Q2 2019 | -6.9% | -9.4% | -20.4% | |
| Q1 2019 | -5.2% | -4.1% | -3.0% | |
| Q4 2018 | +15.6% | +17.7% | +11.7% | |
| Q3 2018 | -3.9% | -6.6% | -6.9% | |
| Q2 2018 | +1.4% | -5.0% | +6.9% | |
| Q1 2018 | +11.4% | +7.2% | +13.6% | |
| Q4 2017 | -4.8% | -6.9% | -0.9% | |
| Q3 2017 | -12.8% | -13.0% | -8.7% | |
| Q2 2017 | +4.8% | +10.8% | +6.7% | |
| Q1 2017 | +14.3% | +14.8% | +6.0% | |
| Q4 2016 | +1.2% | — | — | |
| Q3 2016 | -24.5% | — | — | |
| Q2 2016 | +20.8% | — | — | |
| Q1 2016 | -2.5% | — | — | |
| Q4 2015 | -1.1% | — | — | |
| Q3 2015 | -17.0% | — | — | |
| Q2 2015 | +3.2% | — | — | |
| Q1 2015 | +1.0% | — | — | |
| Q4 2014 | -3.1% | — | — | |
| Q3 2014 | -1.3% | — | — | |
| Q2 2014 | +0.9% | — | — | |
| Q1 2014 | -6.2% | — | — | |
| Q4 2013 | -3.8% | — | — | |
| Q3 2013 | +8.0% | — | — | |
| Q2 2013 | +1.4% | — | — | |
| Q1 2013 | -3.0% | — | — | |
| Q4 2009 | -0.0% | — | — | |
| Q4 2012 | +2.5% | — | — | |
| Q3 2012 | +9.8% | — | — | |
| Q2 2012 | -4.9% | — | — | |
| Q1 2012 | +8.9% | — | — | |
| Q4 2011 | +10.2% | — | — | |
| Q2 2011 | +10.2% | — | — | |
| Q3 2010 | +9.7% | — | — | |
| Q3 2011 | +9.7% | — | — | |
| Q2 2010 | -5.5% | — | — | |
| Q1 2011 | -5.5% | — | — | |
| Q4 2010 | -5.5% | — | — | |
| Q1 2010 | -5.5% | — | — |
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