RL - Ralph Lauren gains after strong store sales leads to earnings topper

Ralph Lauren Corporation (NYSE:RL) slid past estimates with its FQ4 earnings report as revenue increased 18% to $1.5B on a reported basis and was up 22% in constant currency. Revenue from the North America business increased 19% during the quarter to $674M. In retail, comparable store sales in North America were up 21%, with a 27% increase in digital commerce and a 19% increase in brick and mortar stores. North America wholesale revenue was up 1%. Wholesale results included a significantly higher level of negative impact from strategic distribution resets and the transition of Chaps to a licensed business in the relative to the first three quarters of the year, as planned. RL noted that it will lap the majority of those impacts beginning in FY23. North America operating income in the fourth quarter was $90M on both a reported basis and an adjusted basis. Revenue from the European business

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Ralph Lauren gains after strong store sales leads to earnings topper