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EX - 99.1 2 rl - 20201226ex991xpressrele.htm EX - 99.1 RALPH LAUREN REPORTS THIRD QUARTER FISCAL 2021 RESULTS EXHIBIT 99.1 • Third Quarter Revenues Were $ 1.4 Billion Reflecting Continued Recovery from COVID - 19 - Related Impacts ; Asia Exceeded Expectations with Mid - Teens Growth • • • Global Digital Commerce Sales Increased More than 20 % , with Double - Digit Growth Across All Regions with Continued Expansion in Profitability Stronger than Expected Gross and Operating Margins Driven by a 19 % Increase in Average Unit Retail and Continued Expense Reductions Restructuring Actions on Track with Second Stage Focused on Realignment of Real Estate Footprint Across Corporate Offices , Retail Stores , and Distribution Centers NEW YORK -- ( BUSINESS WIRE ) -- February 4 , 2021 -- 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 $ 1.61 on a reported basis and $ 1.67 on an adjusted basis , excluding restructuring - related and other net charges and one - time tax events , for the third quarter of Fiscal 2021. This compared to earnings per diluted share of $ 4.41 on a reported basis and $ 2.86 on an adjusted basis , excluding restructuring - related and other net charges and one- time tax events , for the third quarter of Fiscal 2020 . " For more than 50 years we have stayed true to a set of values that define us – among them timelessness , quality , perseverance and optimism , " said Ralph Lauren , Executive Chairman and Chief Creative Officer . " And in this period of great challenge and change , it is these values that are enabling us to authentically and deeply connect with our consumers around the world . " " Despite the disruptions and uncertainty we faced throughout our third quarter , our teams continued to elevate our brands and effectively engage with consumers around the world – delivering better than expected gross and operating margins through the holiday period , and continuing to meaningfully improve our digital profitability , " said Patrice Louvet , President and Chief Executive Officer . " We remain focused on emerging from this period in a position of strength as we invest in key areas like our digital transformation , while taking a disciplined approach with expenses and ensuring we have the right resources , footprint and brand portfolio to support future growth and value creation . " Key Achievements in Third Quarter Fiscal 2021 As we continued to navigate a volatile global retail environment , we delivered the following highlights across our strategic priorities in the third quarter of Fiscal 2021 : Win Over a New Generation of Consumers ° ° Elevated our brand and connected with consumers through high - impact marketing campaigns , driving accelerated growth in global brand awareness and purchase intent . Third quarter highlights included our 360 ° ‘ Family is Who You Love ' holiday campaign emphasizing our core Ralph Lauren values , our livestream selling event on Singles Day , and our global Farfetch launch targeting Next Generation consumers Continued to innovate digital brand experiences in the quarter through our Polo Pony logo scan - our first augmented reality launch on Snapchat , Holiday Bear Run livestream gaming event on Twitch , expanded Virtual Store Experiences and customized gift guides 1