Ralph Lauren — Aug 6, 2026 release

The full year Fiscal 2027 and second quarter guidance excludes any potential restructuring-related and other net charges that may be incurred in future periods, as described in the "Non-U.S. GAAP Financial Measures" section of this press release. For Fiscal 2027, the Company expects constant currency revenues to increase approximately mid-single digits to last year on a 52-week comparable basis, now centered around 5% to 6%, reflecting better-than-expected first quarter results. Based on current exchange rates, foreign currency is expected to negatively impact revenue growth by approximately 50 to 100 basis points in Fiscal 2027. The Company now expects operating margin for Fiscal 2027 to expand approximately 60 to 80 basis points in constant currency, up from its prior outlook, driven by gross margin expansion and operating expense leverage. Gross and operating margin expansion are still expected to be stronger in the first half of the fiscal year, largely due to the timing of key marketing activations compared to the prior year period and a lower prevailing tariff rate through the first half of the fiscal year. Foreign currency is still expected to have a roughly neutral impact on gross and operating margin in Fiscal 2027. Fiscal 2027 is a 53-week year, with the 53rd week expected to contribute an additional 1 point to revenue growth and benefit operating margin slightly for the full fiscal year. For the second quarter, the Company expects revenues to grow approximately mid-single digits on a constant currency basis, centered around 5% to 6%. Foreign currency is expected to negatively impact revenu