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Ralph Lauren Corporation (NYSE:RL) is a global leader in the design, marketing and distribution of premium lifestyle products in four categories: apparel, home, accessories and fragrances. For 50 years, Ralph Lauren's reputation and distinctive image have been consistently developed across an expanding number of products, brands and international markets. The Company's brand names, which include Ralph Lauren Purple Label, Ralph Lauren Collection, Double RL, Polo Ralph Lauren, Polo Ralph Lauren Children’s, Ralph Lauren Home, Lauren Ralph Lauren, RLX, American Living, Chaps and Club Monaco, constitute one of the world's most widely recognized families of consumer brands.


NEW YORK--(BUSINESS WIRE)--Nov. 2, 2017-- Ralph Lauren Corporation (NYSE:RL), a global leader in the design, marketing, and distribution of premium lifestyle products, today reported earnings per diluted share of $1.75 on a reported basis and $1.99 on an adjusted basis, excluding restructuring-related and other charges that were primarily related to activities associated with the Company’s Way Forward plan, for the second quarter of Fiscal 2018. This compared to earnings per diluted share of $0.55 on a reported basis and $1.90 on an adjusted basis, excluding restructuring-related and other charges, for the second quarter of Fiscal 2017.
“I am pleased with the progress we are making as we continue to strengthen the foundations of our business and elevate the expression of our iconic brand,” said Ralph Lauren, Executive Chairman and Chief Creative Officer. “Patrice has already proven to be an invaluable partner who is embracing our core values, bringing unique expertise and uniting and empowering our capable teams.”
“We are focused on creating value for all of our stakeholders by continuing to drive productivity and re-igniting quality growth,” said Patrice Louvet, President and Chief Executive Officer. "While there is a lot of work to be done, I am encouraged by the early progress we are making across multiple fronts to strengthen our brand and better connect with consumers.”
We delivered across the following key initiatives in the second quarter:
Elevating Our Brand Through Improved Quality of Sales and Distribution
Average unit retail across our direct-to-consumer network was up 5% to last year
Discount rates were down across all regions in retail
Adjusted gross margin was up 300 basis points compared to last year
Continued to close unproductive distribution in retail and wholesale and significantly reduced off-price shipments and began to upgrade our store environments
Evolving Product and Marketing to Increase Reach and Appeal with New Consumers
Evolved our product assortment by renewing our core styles and focusing on our icons, which drove improvements in Polo Fall seasonal product sell-out trend
Increased marketing reach and effectiveness with significant growth in digital and social media impressions with the Stadium launch and September Fashion Show
Released limited edition products that create more reasons for consumers to engage with us and inject energy and excitement into our brand
Expanding Our Digital and International Presence
In Asia, expanded our high-ROI concession network and delivered 3% constant currency comp growth
Continued to drive sales growth in our wholesale digital business globally
Launched on T-mall, and WeChat in China
Working In New Ways to Drive Productivity and Agility
Reduced operating expenses by 5% on an adjusted basis to increase efficiencies
Lowered inventory levels by 26% to last year and improved inventory turns
Continued the progress to achieve lead time goals and increased SKU productivity

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