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Ralph Lauren backs FY23 revenue view up 13.5%-14%, consensus $6.28B
The Fly

Ralph Lauren backs FY23 revenue view up 13.5%-14%, consensus $6.28B

Sees FY23 capital expenditures $240M-$250M. The company said, "The Company’s outlook is based on its best assessment of the current macroeconomic environment, including ongoing global supply chain and other inflationary pressures, foreign currency volatility, the war in Ukraine, COVID-19 variants and other COVID-related disruptions… For Fiscal 2023, the Company continues to expect constant currency revenues to increase approximately high-single digits to last year, or about 8%, on a 52-week comparable basis. Based on current exchange rates, foreign currency is now expected to negatively impact revenue growth by approximately 600 basis points in Fiscal 2023, compared to the previous estimate of 730 basis points. On a 53-week comparable basis, Fiscal 2023 revenue growth is still expected to be negatively impacted by approximately 100 basis points due to the absence of the 53rd week compared to the prior year. The Company expects operating margin for Fiscal 2023 in the range of 13.5% to 14.0% in constant currency, slightly below the previous outlook of approximately 14.0% on moderated gross margin expectations. Foreign currency is now expected to negatively impact operating margin by approximately 180 basis points in Fiscal 2023. This compares to operating margin of 13.1% on a 52-week comparable basis and 13.4% on a 53-week basis in the prior year, both on a reported basis. Gross margin is expected to be about flat in constant currency on a 52-week comparable basis, with AUR growth and favorable product mix offset by higher freight and product cost inflation. Foreign currency is expected to negatively impact gross margins by approximately 150 basis points in Fiscal 2023."

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