Ralph Lauren (NYSE:RL) North America Revenue declined from $3.14 billion in FY’20 to about $2 billion in FY’21. Trefis expects sales to recover to $2.9 billion in FY’22 and to $3 billion by FY’23. Fiscal years end in March.
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Sales took a hit in FY’21, due to the impact of Covid-19 and the associated lockdowns. However, with improving macroeconomic conditions and steadily rising consumer confidence, we expect the sales of full-priced merchandise to increase in the U.S, driving revenue higher.
We don’t think the recovery is fully priced into RL stock. We value RL at about $136 per share,12% ahead of the current market price.
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