Ralph Lauren, a global leader in design, marketing and distribution of premium lifestyle products in categories – apparel, home, accessories and fragrances, has revealed its fourth quarter and full year fiscal 2016 results.
The fashion retailer reported net income of US $ 74 million in the fourth quarter of fiscal 2016 compared with reported net income of US $ 124 million in the same quarter last fiscal. Net revenues in the reporting quarter remained flat compared with same period last year on a constant currency basis and declined 1 per cent on a reported basis to US $ 1.9 billion.
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For full year, net income at Ralph Lauren was US $ 546 million as against net income of US $ 702 million in fiscal 2015. On a reported basis, net income was US $ 396 million. Net revenues for the full year rose 1 per cent on a constant currency basis, and dropped 3 per cent on a reported basis to US $ 7.4 billion. Gross profit for fiscal 2016 plunged 4 per cent to US $ 4.2 billion. Net income for the full year fiscal 2016 period was US $ 546 million compared with US $ 702 million.
Commenting on the results, Ralph Lauren, Executive Chairman and Chief Creative Officer said, “Fiscal 2016 was a year of significant change for our Company as we established a new organizational structure and appointed a new CEO. I am greatly encouraged by the changes that have already taken shape over the past several months under Stefan’s leadership and he has my full support as he and his team build and implement our new strategic growth plan.”
