×
60 087
Fashion Jobs
LULULEMON
Store Business Lead | Garden State Plaza
Permanent · Paramus
LEVI'S
Stock Lead, Part- Time, Levi’s® Retail, 34th Street, New York
Permanent · New York
ABERCROMBIE AND FITCH CO.
Abercrombie & Fitch - Manager in Training, Victoria Gardens
Permanent · Rancho Cucamonga
ATHLETA
General Manager - Santana Row (New Store)
Permanent · San Jose
NEIMAN MARCUS
Senior Director, General Manager, Palo Alto
Permanent · Palo Alto
ROSS STORES
Store Protection Specialist
Permanent · Hyattsville
MACY'S
Asset Protection Detective, Santa Anita - Standard Part Time
Permanent · Arcadia
MACY'S
Asset Protection Security Guard, The Market at West Bend - Part Time
Permanent · Tarrant
MACY'S
Asset Protection Security Guard, Herald Square - Full Time
Permanent · New York
MACY'S
Asset Protection Detective, Roosevelt Field - Part Time
Permanent · Garden City
MACY'S
Asset Protection Detective, City Creek Center - Full Time
Permanent · Salt Lake City
MACY'S
Asset Protection Detective, Pentagon City - Full Time
Permanent · Arlington
MACY'S
Asset Protection Detective, Serramonte - Full Time
Permanent · Daly City
MACY'S
Asset Protection Security Guard, San Francisco Union Square - Full Time
Permanent · San Francisco
MACY'S
Asset Protection Security Guard, Brea - Flex
Permanent · Brea
MACY'S
Asset Protection Security Guard, Santa Anita - Standard Part Time
Permanent · Arcadia
MACY'S
Asset Protection Detective, Sacramento Downtown Plaza - Part Time
Permanent · Sacramento
MACY'S
Asset Protection Security Guard, Roosevelt Field - Flex
Permanent · Garden City
MACY'S
Asset Protection Security Guard, Market by Macy's, Southlake Town Square - Full Time
Permanent · Southlake
MACY'S
Asset Protection Security Guard, Wolfchase - Part Time
Permanent · Bartlett
MACY'S
Asset Protection Security Guard, Southcenter - Part Time
Permanent · Seattle
MACY'S
Asset Protection Security Guard, Las Vegas Fashion Show - Flex
Permanent · Las Vegas
By
Reuters
Published
May 24, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ralph Lauren expects margins to grow on resilient luxury demand

By
Reuters
Published
May 24, 2022

Ralph Lauren Corp  on Tuesday forecast improved full-year margins as demand for its luxury apparel in its biggest markets in North America and Europe stays strong at a time when inflation is denting profits at major U.S. retailers.


Ralph Lauren



The spending power of higher-income customers has stayed unaffected by higher prices of essentials, and they are now splurging on fashion as they return to old routines and venture out more.

"Our consumers are resilient. They're at the higher end of income demographics, and they've proven through COVID that their desire for the brand has increased," Chief Financial Officer Jane Nielsen said on an earnings call.

The 55-year-old brand also forecast revenue to increase in high single digits, versus Wall Street's expectation of a 3.6% increase, according to Refinitiv IBES.

Ralph Lauren, which said it could raise prices further to counter increased freight and product costs, forecast fiscal 2023 gross margin to increase 30 to 50 basis points on a comparable, constant currency basis.

Major discount chains, meanwhile, have seen their profits dwindle.

Ralph Lauren's shares fell marginally amid broader declines, after the company also forecast gross margin to be down for the first half of fiscal 2023 due to higher expenses and a strong dollar.

The brand said its forecasts take into account a potentially softer European consumer sentiment and the impact of Chinese lockdowns. But it expects its China business to grow this year.

For Ralph Lauren, which increased its quarterly dividend by 9%, fourth-quarter net revenue rose 18% to $1.52 billion, beating estimates of $1.46 billion. Adjusted per-share profit was 49 cents, above estimates of 36 cents.

"We think the company could hold up well amid the current macro uncertainty (benefiting from return-to-office, return-to-events, etc.)," Wedbush analyst Tom Nikic said.

© Thomson Reuters 2022 All rights reserved.