Ralph Lauren Corporation, a global design, marketing, and distribution of premium lifestyle products maker is reporting diluted earnings per share USD0.72 on a reported basis and $1.11 on an adjusted basis for the 2018 fiscal year.
The result excludes excluding restructuring-related and other charges that were primarily related to activities associated with the Company’s Way Forward plan, for the first quarter of Fiscal 2018.
This compared to earnings per diluted share of ($0.27) on a reported basis and $1.06 on an adjusted basis, excluding restructuring-related and other charges, for the first quarter of Fiscal 2017.
“I am thrilled to welcome Patrice Louvet as my partner to continue the exciting evolution of our Company,” said Ralph Lauren, Executive Chairman and Chief Creative Officer. “Patrice has the enthusiasm to discover what has made our brand so iconic and the capability to evolve our business. We are both committed to preserving the essence of our brand while actively evolving it to renew long-term growth. Our experiences and expertise will be a powerful and winning combination.”
“While we are addressing challenges in our business, we have a significant opportunity ahead and we’re moving forward with urgency,” said Patrice Louvet, President and Chief Executive Officer. “Ralph and I are focused on actively evolving the brand expression and consumer experience so we can ultimately renew growth and get back to leading. We are continuing to build a strong foundation for future growth, as evidenced by our progress this quarter on the key elements of the Way Forward plan.”