08:46 AM EDT, 05/23/2024 (MT Newswires) -- Ralph Lauren ( RL ) reported fiscal Q4 adjusted net income Thursday of $1.71 per diluted share, up from $0.90 a year earlier.

Analysts polled by Capital IQ expected $1.67.

Net revenue for the quarter ended March 30 was $1.57 billion, up from $1.54 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.57 billion.

The company said it expects fiscal 2025 revenue to grow by 2% to 3%.

For fiscal Q1, Ralph Lauren ( RL ) expects revenue growth to be slightly higher than the prior year on a constant currency basis.

Meanwhile, the company said it increased its quarterly dividend by 10% to $0.825 per share, payable on July 12 to shareholders of record on June 28.

The company also said it has named Justin Picicci as chief financial officer, effective the same day. Picicci succeeds Jane Nielsen, who served dual roles as CFO and chief operating officer and will continue as COO.

Picicci joined Ralph Lauren ( RL ) in 2006 and most recently served as Enterprise CFO, the company said.

Shares of the company were down 3.2% in recent Thursday premarket activity.

Price: 159.00, Change: -5.20, Percent Change: -3.17