Ralph Lauren to return $2 billion to shareholders in the next three years

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Ralph Lauren Corp. shares RL, +2.36% swung between gains and losses in premarket trade Monday, after the company outlined its strategic growth plan in a statement released ahead of an investor day in New York City. The clothing company said it expects to return about $2 billion in excess cash flow to shareholders through fiscal 2025 in the form of dividends and share buybacks. It is targeting a mid to high-single-digit revenue compound annual growth rate in the next three years and expects operating profit growth to exceed top-line growth in constant currency. Its operating margin is expected to grow at least 15% by fiscal 2025. The company is planning to elevate and energize its lifestyle brand and to expand its core product line up with a focus on “consumers’ evolving lifestyles and approach to wardrobing.” Shares have fallen 21% in the year to date, while the S&P 500 SPX, -0.18% has fallen 19%.

This article was originally published by Marketwatch.com. Read the original article here.

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