Ralph Lauren Guides Q1, FY22 Revenue Growth; Reinstates Dividend - Quick Facts

(RTTNews) - While reporting its financial results for the fourth quarter on Thursday, luxury fashion house Ralph Lauren Corp. (RL) said it expects revenues to increase approximately 140 to 150 percent in constant currency for the first quarter and approximately 20 to 25 percent in constant currency for the full year 2022. The guidance excludes restructuring-related and other charges

On average, analysts polled by Thomson Reuters expect the net sales to surge 84.0 percent to $1.13 billion for the quarter and 31.1 percent to $5.66 billion for the year.

The company continues to note that the ongoing uncertainty and evolving situation surrounding COVID-19 is impacting the timing and path of recovery in each market, including the potential for further resurgences of the pandemic across various markets.

Ralph Lauren also announced that its Board of Directors approved to reinstate its regular quarterly cash dividend on the Company's Common Stock, previously suspended due to the COVID-19 pandemic. The quarterly cash dividend is $0.6875 per share, next payable on July 9, 2021 to shareholders of record at the close of business on June 25, 2021.

Further, the company announced that Joel Fleishman, after twenty-two years of service on the Board of Directors, will not stand for reelection after his term expires at the end of July at the 2021 Annual Meeting of Stockholders.

Effective after the 2021 Annual Meeting, Hubert Joly, Former Chairman and CEO of Best Buy Co., Inc. and Chair of the company's Finance Committee, has been appointed to serve as the Board's new Lead Independent Director replacing Frank Bennack, who will continue to serve on the Board.