They also are more likely to become repeat buyers, Forrester Research says.
Ralph Lauren’s online sales grew 23%.
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.