12:14 PM EDT, 05/23/2024 (MT Newswires) -- Ralph Lauren ( RL ) posted "solid" fiscal Q4 results, though its fiscal 2025 revenue outlook was "a bit disappointing" for investors, Wedbush Securities said Thursday.

The company reported fiscal Q4 adjusted net income of $1.71 per share on revenue of $1.57 billion. For fiscal 2025, Ralph Lauren ( RL ) said it expects revenue to grow by 2% to 3%.

The company also named Justin Picicci as chief financial officer, succeeding Jane Nielsen, who served dual roles as CFO and chief operating officer and will continue as COO.

"RL continues to execute well on their brand-elevation strategy, with yet another quarter of growth in average unit retail pricing, but the story has become cloudier with the announced departure of highly-regarded CFO Jane Nielsen," Wedbush analysts Tom Nikic and Matt Quigley said in a note. "Modest FY25 revenue guidance is likely a bit disappointing for investors."

They reduced their fiscal 2025 EPS outlook to $11.12 from $11.38 and 2026 outlook to $12.30 from $12.56.

The company's shares were up more than 2% in recent Thursday trading.

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