Ralph Lauren Corporation (NYSE:RL) Q4 2024 Earnings Call Transcript May 23, 2024 9:00 AM ET
Company Participants
Corinna Van der Ghinst - IR
Patrice Louvet - President and CEO
Jane Nielsen - COO and CFO
Conference Call Participants
Jay Sole - UBS
Dana Telsey - Telsey Advisory Group
Matthew Boss - JPMorgan
Michael Binetti - Evercore ISI
Ashley Helgans - Jefferies
John Kernan - TD Cowen
Laurent Vasilescu - BNP Paribas
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Ralph Lauren Fourth Quarter and Full Year Fiscal 2024 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Instructions on how to ask a question will be given at that time. [Operator Instructions] As a reminder, this conference is being recorded. I'd now like to turn over the conference to our host, Ms. Corinna Van der Ghinst. Please go ahead.
Corinna Van der Ghinst
Good morning, and thank you for joining Ralph Lauren's fourth quarter and full-year fiscal 2024 conference call. With me today are Patrice Louvet, the Company's President and Chief Executive Officer, and Jane Nielsen, Chief Operating Officer and Chief Financial Officer. After prepared remarks, we will open up the call for your questions, which we ask that you limit to one per caller.
During today's call, our financial performance will be discussed on a constant-currency adjusted basis. Our reported results, including foreign currency, can be found in this morning's press release. We will also be making some forward-looking statements within the meaning of the federal securities laws, including our financial outlook. Forward-looking statements are not guarantees, and our actual results may differ materially from those expressed or implied in the forward-looking statements.
Our expectations contain many risks and uncertainties. Principal risks and uncertainties that could cause our results to differ materially from our current expectations are detailed in our SEC filings. Defined disclosures and reconciliations of non-GAAP measures that we use when discussing our financial results, you should refer to this morning's earnings release and to our SEC filings that can be found on our Investor Relations website.
With that, I will turn the call over to Patrice.
Patrice Louvet
Thank you, Cori. Good morning, everyone, and thank you for joining today's call. As we close out year two of our next great chapter Accelerate Plan, we are proud to have delivered strong progress once again on our core strategic and financial commitments. Supported by the incredible dedication and agility of our teams, this year's performance underscores, both the strength and resilience of our multi-levered plan. In particular, we drove progress on, first, clearly increasing the desirability of our timeless brand, which is resonating with consumers of all ages and enabling continued pricing power in the market. Second, leveraging the breadth and authenticity of our lifestyle portfolio of products. And third, continuing on our long-term strategic pivot toward direct-to-consumer channels, which now represent about two-thirds of our total business compared to 55% when I joined the Company. This is where we can drive the best expression of our brand and own customer engagement while reducing our exposure to wholesale. All of this is underpinned by our key enablers and culture of operating discipline. These are key differentiators behind our consistent execution, which enable us to fuel our strategic growth initiatives for the long term.