Ralph Lauren sees FY26 revenue up low-single digits

The company said, “For Fiscal 2026, the Company expects revenues to increase approximately low-single digits to last year on a constant currency basis, with growth weighted to the first half of the fiscal year. The Company expects operating margin for Fiscal 2026 to expand modestly in constant currency, driven primarily by operating expense leverage. Based on the Company’s current assessment of tariff rates, gross margin is expected to be approximately flat in constant currency, with AUR growth, reduced cotton costs and favorable geographic and channel mix offsetting the negative impact of increased tariffs and non-cotton material costs. Based on current exchange rates, foreign currency is expected to have a relatively minimal impact on revenue and gross and operating margins in Fiscal 2026. The full year Fiscal 2026 tax rate is expected to be in the range of 20% to 22%, assuming a continuation of current tax laws. First quarter of Fiscal 2026 tax rate is expected to be approximately 20% to 21%. The Company is planning capital expenditures for Fiscal 2026 of approximately 4% to 5% of revenue.”