Ralph Lauren Corporation reported consolidated unaudited earnings results for the fourth quarter and full year ended March 30, 2013. For the quarter, the company reported net sales of $1,600.2 million compared with $1,579.5 million for the same period last year. Net revenues were $1,643.3 million compared with $1,622.9 million for the same period last year. Operating income was $182.0 million compared with $136.4 million for the same period last year. Income before provision for income taxes was $168.6 million compared with $131.0 million for the same period last year. Net income was $127.2 million or $1.37 diluted per share compared with $94.4 million or $0.99 diluted per share for the same period last year. For the full year, the company reported net sales of $6,762.9 million compared with $6,678.8 million for the same period last year. Net revenues were $6,944.8 million compared with $6,859.5 million for the same period last year. Operating income was $1,126.7 million compared with $1,039.4 million for the same period last year. Income before provision for income taxes was $1,089.3 million compared with $1,015.1 million for the same period last year. Net income was $750.0 million or $8.0 diluted per share compared with $681.0 million or $7.13 diluted per share for the same period last year. Net revenues for the full year Fiscal 2013 period increased 1%, as strong retail segment growth was partially offset by a decline in wholesale segment sales and net unfavorable foreign currency effects. Excluding the impact of strategic decisions to discontinue American Living and store closures associated with the Company's Greater China network repositioning efforts, in addition to the net negative impact from foreign currency translation, net revenues increased approximately 5% in Fiscal 2013. The growth in net income and net income per diluted share was principally due to the higher operating income discussed above. The effective tax rate for Fiscal 2013 was 31% compared to 33% in Fiscal 2012. Excluding Rugby-related impairment and restructuring charges, net income for Fiscal 2013 rose 12% to $762 million and net income per diluted share increased 14% to $8.13. The company reported impairment of assets of was $6.6 million for the fourth quarter ended March 30, 2013. The company currently expects consolidated net revenues for Fiscal 2014 to increase by 4%-7%, including a 150 basis point net negative impact from foreign currency translation. Operating margin for Fiscal 2014 is currently expected to be 25-75 basis points below the prior year's record level due to the integration of certain formerly licensed merchandise categories and geographic regions to directly controlled operations, accelerated investment in the company's long-term growth initiatives and unfavorable foreign currency effects. The full year Fiscal 2014 tax rate is estimated at 31%. Capital expenditures are planned at approximately $350-$450 million in Fiscal 2014. In the first quarter of Fiscal 2014, the company expects consolidated net revenues to increase by a low-single-digit percentage, including a 150 basis point net negative impact from foreign currency translation. Wholesale sales are expected to grow slightly faster than retail sales due to the transition of certain formerly licensed merchandise categories to directly controlled operations. Operating margin for the first quarter of Fiscal 2014 is expected to be approximately 200-250 basis points below the comparable prior year period due to the integration of newly assumed operations, the timing of investments to support the Company's strategic growth objectives and unfavorable foreign currency effects. The first quarter tax rate is estimated at 32%.

Ralph Lauren Corporation, Q4 2013 Earnings Call, May 23, 2013

Ralph Lauren Corporation announced that they will report Q4, 2013 results at 8:00 AM, US Eastern Standard Time on May 23, 2013