The Top 500 retailer buys Campus Deals, which offers mobile coupons to college students.
Web sales grow faster than total sales for Ralph Lauren in fiscal 2011
Ralph Lauren’s online sales grew 23%.
Senior Editor, Research
Polo Ralph Lauren Corp. posted strong e-commerce sales growth in its final quarter and full fiscal year.
For the year ended April 2, Ralph Lauren, No. 70 in the Internet Retailer Top 500 reported:
- Web sales increased 23% in fiscal 2011. Based on that percentage increase and previous numbers supplied to the Top 500 Guide, Internet Retailer calculates web sales reached $369 million in fiscal 2011, compared with $300 million in fiscal 2010.
- Total sales were $5.7 billion, up by 14% from $5.0 billion in fiscal 2010.
- Retail sales were $2.7 billion, up by 17.4% from $2.3 billion in the last fiscal year.
- Net income was $568 million, up by about 18.3% from $480 million in fiscal 2010.
Internet Retailer calculates the web accounted for 6.5% of sales in fiscal 2011 compared with 6.0% in fiscal 2010.
For the quarter, Ralph Lauren reported:
- Online sales grew 21% from the same quarter in fiscal 2010; the company did not disclose exact web sales figures for the quarter.
- Total sales were $1.38 billion, up 7% from $1.29 billion in the fourth quarter of fiscal 2010.
- Retail sales were $631.3 million, up by about 13.9% from $554.3 million in the in the fourth quarter of fiscal 2010.
- Net income declined 35.8% to $73.2 million, from $114.1 million in the fourth quarter of fiscal 2010.
“We remain committed to our strategy of investing in growth initiatives in infrastructure during fiscal 2012, including international retail expansion and e-commerce, and continued systems enhancements,” said Tracey Travis, chief financial officer, in the company’s year-end earnings call with Wall Street analysts.
The company currently has e-commerce operations in the U.K. and plans to expand to other countries in Europe, Travis told analysts.