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Polo Ralph Lauren Corp. (RL) filed Quarterly Report for the period ended 2011-12-31.
Ralph Lauren Corp has a market cap of $14.47 billion; its shares were traded at around $171.49 with a P/E ratio of 23 and P/S ratio of 2.6. The dividend yield of Ralph Lauren Corp stocks is 0.5%. Ralph Lauren Corp had an annual average earning growth of 14.3% over the past 10 years. GuruFocus rated Ralph Lauren Corp the business predictability rank of 5-star.
This is the annual revenues and earnings per share of RL over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of RL.
Highlight of Business Operations:
During the nine months ended December 31, 2011, we reported revenues of $5.237 billion, net income attributable to RLC of $586.6 million and net income per diluted share attributable to RLC of $6.14. This compares to revenues of $4.233 billion, net income attributable to RLC of $494.4 million and net income per diluted share attributable to RLC of $5.01 during the nine months ended January 1, 2011.Net Revenues. Net revenues increased by $1.003 billion, or 23.7%, to $5.237 billion for the nine months ended December 31, 2011 from $4.233 billion for the nine months ended January 1, 2011. The increase was primarily due to higher revenues from our global retail and wholesale businesses, which included favorable foreign currency effects. Excluding the effect of foreign currency, net revenues increased by $894.3 million, or 21.1%.
Gross Profit. Gross profit increased by $563.7 million, or 22.5%, to $3.072 billion for the nine months ended December 31, 2011 from $2.508 billion for the nine months ended January 1, 2011. Gross profit as a percentage of net revenues declined by 50 basis points to 58.7% for the nine months ended December 31, 2011 from 59.2% for the nine months ended January 1, 2011. This decrease was primarily due to sourcing cost increases experienced across our global businesses, particularly in our Wholesale segment, partially mitigated by consolidated targeted pricing actions. The decline in gross profit as a percentage of net revenues was also offset in part by a more favorable geographic and channel mix and stronger levels of full-price sell-throughs driven by our retail businesses in Asia.
Selling, General and Administrative Expenses. SG&A expenses increased by $385.3 million, or 21.9%, to $2.147 billion for the nine months ended December 31, 2011 from $1.762 billion for the nine months ended January 1, 2011. This increase included an unfavorable foreign currency effect of approximately $53 million, primarily related to the performance of the Euro and the Yen, both in comparison to the U.S. dollar during the nine months ended December 31, 2011. SG&A expenses as a percentage of net revenues decreased to 41.0% in the nine months ended December 31, 2011 from 41.6% in the nine months ended January 1, 2011. The 60 basis point decrease was primarily due to operating leverage related to the increase in net revenues, which more than
Operating Income. Operating income increased by $175.1 million, or 24.1%, to $903.0 million for the nine months ended December 31, 2011 from $727.9 million for the nine months ended January 1, 2011. Operating income as a percentage of net revenues remained consistent with the prior year-to-date period at 17.2% for the nine months ended December 31, 2011, as the decline in gross profit margin was offset by the decrease in SG&A expenses as a percentage of net revenues, as previously discussed.
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