Ralph Lauren Corporation - RL STOCK NEWS

Ralph Lauren (NYSE: RL) revealed Team USA's Opening Ceremony Parade Uniform, introducing the innovative RL COOLING technology. This state-of-the-art cooling device will be worn by the flag bearer during the Olympic and Paralympic Opening Ceremonies, designed to mitigate heat discomfort. The uniform features sustainable materials, including US-grown wool and recycled polyester. Ralph Lauren, an Official Outfitter since 2008, supports the athletes with proceeds from the Team USA Collection sales.

Ralph Lauren Corporation (NYSE:RL) reported a significant improvement in its fourth quarter Fiscal 2021 earnings, posting a diluted EPS of ($1.01) on a reported basis and $0.38 adjusted, compared to the previous year's ($3.38) reported and ($0.68) adjusted. For the full year, the company recorded a diluted EPS of ($1.65) reported and $1.70 adjusted, down from $4.98 and $6.56, respectively, in Fiscal 2020. The Board approved a quarterly cash dividend of $0.6875 per share, reinstating dividends suspended during the pandemic. The company aims for sustainable long-term growth despite ongoing market volatility.

Ralph Lauren Corporation (NYSE: RL) has announced the sale of its Club Monaco brand to Regent, L.P., a private equity firm, with the deal expected to close by the end of June. This move is part of Ralph Lauren's strategy to concentrate on its core brands and enhance sustainable growth. Patrice Louvet, CEO, expressed confidence in Regent's ability to drive Club Monaco's future success. This transaction concludes the brand portfolio evaluation initiated under the Fiscal 2021 Strategic Realignment Plan.

Ralph Lauren Corporation (NYSE:RL) partners with Major League Baseball (MLB™) to launch collections featuring iconic teams like the New York Yankees™, Los Angeles Dodgers™, and more. The first capsule releases on May 10, showcasing Polo shirts, satin jackets, and team-themed apparel for all ages. The partnership includes a digital campaign and a cross-country tour with themed food options. Additional capsules are planned for the Fall and Holiday seasons, further enhancing Ralph Lauren’s association with prestigious sporting events.

Ralph Lauren Corporation (NYSE:RL) has launched Color on Demand, a groundbreaking dyeing platform aimed at revolutionizing cotton dyeing in a sustainable manner. This multi-phased system targets a zero wastewater approach, addressing the environmental impact of traditional dyeing processes, which contribute to 20% of global wastewater.

By utilizing technologies that allow for recycling water and reducing chemical usage, Color on Demand can decrease water use by 40%, energy consumption by 90%, and carbon footprint by 60%. The company aims to implement this system in over 80% of its solid cotton products by 2025.

Ralph Lauren introduces ‘The Lauren Look,’ a subscription apparel rental service under the Lauren Ralph Lauren brand. This pioneering initiative allows consumers to engage with the brand while offering a sustainable approach to fashion. The subscription starts at $125 per month and provides access to an array of clothing options, curated by expert stylists. The launch, planned for March 2nd in North America, aims to cater to modern consumers' evolving wardrobe needs while reducing clothing waste through an after-use donation program.

Ralph Lauren Corporation (NYSE:RL) reported Q3 Fiscal 2021 earnings per diluted share of $1.61, down from $4.41 YoY. Revenue decreased by 18% to $1.4 billion, with North America and Europe revenue down 21% and 28%, respectively. However, digital sales surged by over 70% in Europe and Asia, driving gross margin up to 64.9%. The company announced a strategic realignment plan, expecting pre-tax charges of $300-$350 million but aims for $200-$240 million in annual savings. For Q4, revenue is anticipated to decline mid-to-high single digits as pandemic impacts persist.