News & numbers “[In 2023], we improved our outlook every quarter and are now looking at currency-
neutral revenues to be down only low single digits and a small operating loss of €100m.” Adidas CEO Bjørn Gulden
Ralph Lauren reveals fiscal year 2024 Q2 financial highlights
Iconic fashion brand Ralph Lauren has shared its financial outcomes for the second quarter of the 2024 fiscal year, unveiling a 3% rise in revenue on a reported basis (2% in constant currency), totalling $1.6bn. In North America, revenue encountered a slight 1% dip in the quarter, reaching $718m. Despite this, there was a noteworthy 4% increase in comparable store sales, evenly contributed to by digital commerce and brick-and-mortar stores, both registering a 4% upturn. However, wholesale revenue in the region witnessed a 7% year-on-year reduction.
Europe demonstrated a robust performance with a 7% revenue surge to $517m. Comparable store sales in the region grew by 6%, consisting of a 5%
increase in brick-and-mortar stores and a remarkable 14% surge in digital commerce. Although wholesale revenue remained stable, it saw a 7% decline in constant currency.
Asia emerged as a significant growth
driver, reporting a substantial 10% revenue increase to $348m on a reported basis. Comparable store sales in the region surged by 8%, with brick-and-mortar sales growing by 7% and digital commerce experiencing a remarkable 19% uplift. The second quarter’s gross profit reached $1.1bn, achieving a gross margin of 65.5%, while net income totalled $147m. Looking ahead to the full fiscal year, Ralph Lauren foresees low-single-digit revenue growth on a constant currency basis, projecting around 1–2%. A similar growth trajectory is anticipated for the
third quarter. President and CEO Patrice Louvet commented, “Our teams delivered solid second quarter performance ahead of our commitments with stronger top- line growth across all regions, supported by our iconic brand, pricing power and continued strategic investments. While we continue to navigate an uncertain macro environment, we are driving offense across our Next Great Chapter: Accelerate plan’s multiple growth drivers with agility, discipline and a clear focus on what we can control.”
$1.6bn
Ralph Lauren’s financial outcomes for Q2 2024 fiscal year, a 3% rise in revenue on a reported basis. Ralph Lauren
We represent one of the leading East African leather factories for the international, shoe and leather goods industries with 800+ employees. The leather factories have a market-leading international reputation that they pride themselves ranging from consistent delivery of high-quality goods in a timely manner to being a market leader for environmental, social and governance strategies. Any candidate will be expected to add and improve the market reputation whilst integrating and strengthening the company culture.
We have two job openings for experienced candidates Leather technician – re-tanning department
The candidate will be expected, based on their experience, to be highly analytical in order to improve and develop working methods, quality controls and dye matching systems. The working environment will present exciting challenges to the candidate, which will require close co-operation with the production team to ensure accountability for delivery of high- quality consistent products that meet the buyers’ expectations and standards.
Minimum required experience:
Strong interpersonal and communication skills with proven ability to work with other departments
Goal and deadline oriented mindset to ensure delivery of required tasks / outputs ahead or on-time
LEO1123_K2
Trading.indd 1 Leather International /
www.leathermag.com
Knowledge on preparing and providing data systems to undertake the latest industry audits
respective department
The role requires certain characteristics and qualities that must be a fundamental requirement for any candidate to have a successful application. These include but are not limited to: Self-motivation and a desire to be pro-active Initiative to suggest product improvement and or cost reduction
Development of new articles as required by the market Organising production schedules to ensure timely delivery of planned products
Problem solving mentality with a capacity of analysing problems and providing solutions
Promoting effective teamwork and good communication skills
Open to feedback & constructive criticism
Additional requirements: English spoken and written Friendly manners and a team player Emotional stability Good hygiene
Please send your CV and covering letter with salary expectation to Pauline at
sales@k2trading.com
21/09/2023 13:31 7
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