Ralph Lauren sees Q2 revenue up 3%-4%

The company said, “For the second quarter, the Company expects constant currency revenues to grow approximately low- to mid-single digits to last year, in a range centered around 3% to 4%. Foreign currency is expected to negatively impact revenue growth by approximately 160 basis points. Operating margin for the second quarter is expected to expand approximately 80 to 120 basis points in constant currency, with roughly 110 to 130 basis points of gross margin expansion more than offsetting higher planned operating expenses to support key marketing campaigns in the quarter. Excluding marketing expense, operating expenses are expected to decline slightly as a percent of sales compared to prior year. Foreign currency is expected to negatively impact gross and operating margins by approximately 40 and 50 basis points, respectively, in the second quarter.”