Ralph Lauren earnings date
Ralph Lauren (PRL) Q2 2027 Earnings Report
CH:PRL Q2 2027 EPS Results
- Actual EPS
- CHF 3.83
- Consensus EPS
- CHF 3.51
- Beat/Miss
- Beat by +CHF 0.32
- One Year Ago EPS
- CHF 3.13
CH:PRL Q2 2027 Revenue Results
- Actual Revenue
- CHF 1.81B
- Expected Revenue
- CHF 1.75B
- Beat/Miss
- Beat by +CHF 55.41M
- YoY Revenue Growth
- +9.08%
Earnings Announcement Details
- Quarter
- Q2 2027
- Date
- 11/05/2026
- Time
- Before Open
- Conference Call
- Thursday, November 5, 2026
Ralph Lauren's next earnings date is estimated for February 11, 2027, based on past reporting schedules.
Q2 2027 Earnings Call Audio
Q2 2027 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2027 Earnings Call Summary
The call was strongly positive overall. The company reported broad-based revenue growth, significant margin expansion, strong customer and brand metrics, substantial Asia momentum, a higher full-year outlook, healthy cash generation, and continued investment in long-term growth. The main challenges were European traffic and macroeconomic pressure, planned second-half growth moderation, foreign currency headwinds, tariff uncertainty, and higher labor and material costs, but management described these issues as manageable within its existing plans.
For fiscal 2027, Ralph Lauren now expects constant currency revenue growth of mid to high single digits on a 52-week comparable basis, centered around 6%-7%, up from 5%-6%; foreign currency is expected to negatively impact revenue growth by approximately 40-60 basis points, while the 53rd week is expected to add approximately one point to revenue growth and slightly benefit operating margin. By region, North America revenue is expected to grow approximately low to mid-single digits, Europe approximately low single digits, and Asia low teens, including mid to high teens growth in China; full-year operating margin is expected to expand approximately 80-100 basis points and gross margin approximately 80-100 basis points, with foreign currency expected to benefit gross margin by approximately 10-30 basis points and have a roughly neutral impact on operating margin. Marketing investment is expected to represent approximately 8%-8.5% of sales in fiscal 2027, while the tariff outlook assumes a prevailing rate of approximately 10% through December, followed by a return to reciprocal rates in the high teens in the fiscal fourth quarter. For the third quarter, constant currency revenue is expected to increase approximately low to mid-single digits, centered around 3%-4%, including approximately one point of negative impact from planned wholesale timing shifts and strategic off-price reductions, with underlying growth of roughly mid-single digits; foreign currency is expected to negatively impact revenues by approximately 50-100 basis points, operating margin is expected to expand approximately 50-70 basis points, gross margin is expected to benefit by about 20-40 basis points from foreign currency, operating margin is expected to receive a roughly neutral to 20 basis point benefit, and the tax rate is expected to be in the range of 23%-24%, versus a full year tax rate in the range of 21%-22%.
- Second-Quarter Revenue and Profitability OutperformanceSecond-quarter revenue increased 10%, ahead of the mid-single-digit outlook, with performance exceeding expectations across revenue and profitability. Adjusted operating margin expanded 140 basis points to 15.5%, operating income grew 21%, and full-year guidance was raised again.
- Broad-Based Regional GrowthSecond-quarter revenue increased across every region: Asia grew 28%, North America increased 6%, and Europe increased 3%. Total company retail comparable sales increased 10%, with growth across both digital and brick-and-mortar channels.
- Asia Delivered Strongest GrowthAsia revenue increased 28%, with retail comparable sales up 24% and double-digit growth across every channel. China sales increased more than 35%, while Japan and Korea delivered strong double-digit growth. The full-year Asia revenue outlook was raised to low teens growth, and China’s full-year outlook was raised to mid to high teens growth.
- North America Momentum and Guidance IncreaseNorth America revenue grew 6% in the second quarter, with retail comparable sales up 6% and wholesale revenue up 8%. The full-year North America revenue outlook was raised from low single digits to approximately low to mid-single digits, supported by momentum across direct-to-consumer and full-price wholesale channels.
- Direct-to-Consumer and Core Business GrowthGlobal direct-to-consumer comparable sales increased 10%, led by Ralph Lauren stores and digital commerce. Core products, which represent more than 70% of the business, grew 10% in the second quarter.
- Growth in High-Potential CategoriesWomen’s apparel, outerwear, and handbags grew low double digits during the quarter, ahead of total company growth. Notable launches included the Polo Blaze handbag collection, new women’s apparel, outerwear products, and successful U.S. Open merchandise releases.
- Improved Gross Margin and AURAdjusted gross margin expanded 220 basis points to 70.2%, ahead of outlook. AUR increased 9%, following 12% growth last year, supported by product elevation, favorable channel and geographic mix, selective pricing actions, lower promotional activity, and lower product costs.
- Operating Margin Expansion Despite Continued InvestmentAdjusted operating expenses increased 11%, or 70 basis points as a percentage of sales, as higher marketing investment more than offset leverage in non-marketing expenses. Despite this investment, adjusted operating margin expanded to 15.5%, demonstrating profitability expansion while investing in the brand and capabilities.
- Raised Fiscal 2027 Financial OutlookThe company raised its fiscal 2027 constant-currency revenue growth outlook to mid to high single digits, centered around 6%-7%, from 5%-6% previously. Full-year operating margin expansion guidance increased to approximately 80-100 basis points from 60-80 basis points, while gross margin expansion guidance increased to approximately 80-100 basis points from 50-70 basis points.
- Strong Brand Engagement and Customer AcquisitionSports lifestyle campaigns generated a combined 70 billion global impressions and more than $350 million in media value. The company added 1.7 million new direct-to-consumer customers in the second quarter, increased social media followers by mid-single digits to more than 72 million, and reported improvements in awareness, purchase intent, net promoter score, and other brand equity metrics.
- Marketing Investment Showing Reported ReturnsMarketing increased to 8.6% of sales from 7.8% last year, reflecting investments in campaigns such as the New York fashion show, Wimbledon, and the U.S. Open. Management said the investments were producing attractive returns, supporting new customer acquisition, retention, personalization, lifetime value, and stronger comparable sales. Fiscal 2027 marketing investment is now expected to represent approximately 8%-8.5% of sales, compared with approximately 8% previously.
- Store Expansion and Digital Capability DevelopmentThe company opened 22 new owned and partner stores globally, including locations in Boston, London, Saint-Tropez, Beijing, and Macau. The RL mobile app expanded to Japan after its Korea launch, with early sales performance and downloads exceeding expectations. Connected retail and clienteling capabilities also expanded across several Asian markets.
- Technology, AI, and Personalized Consumer ExperiencesRalph Lauren continued investing in advanced technology, AI, and analytics to help teams move faster, personalize consumer experiences, and operate with greater precision. The company enhanced visibility on key large language models, launched a test of WhatsApp Concierge, and continued scaling advertising on the OpenAI platform for holiday gifting and cultural moments.
- Healthy Balance Sheet and Shareholder ReturnsThe company repurchased approximately $250 million of shares in the second quarter, bringing year-to-date repurchases to $500 million and completing its fiscal 2027 buyback plans. It remains on track to return over $2 billion to shareholders through dividends and repurchases over the three-year Drive plan. The period ended with $1.8 billion in cash and short-term investments and $1.2 billion in total debt.
- Inventory DisciplineSecond-quarter net inventory decreased 8% in constant currency, including an approximately 2% decline excluding the impact of tariffs. Management said inventories were healthy, current, and well-positioned for the holiday season while preserving flexibility.
- Successful Brand Activations and Product InnovationThe company highlighted activations at Wimbledon, the U.S. Open, Goodwood Revival, the Spring 2027 Women’s Collection fashion show, PoloFest in Tokyo, and celebrity dressing moments. It also cited strong sell-through from the U.S. Open collection and collaborations with Gee’s Bend and TÓPA.
- Purpose, Culture, and Community InitiativesRalph Lauren announced a partnership with the Korea National Cancer Center Foundation to establish its first Ralph Lauren Cancer Center in Asia and fifth globally. The company was also named one of the world’s best employers by Forbes.
- Holiday Marketing and Consumer Engagement PlansFor the holiday season, the company plans to increase media investment by 23% versus last year, focus on its top 30 city ecosystems, double global holiday experiences from four cities to eight, and use creators, influencers, editorial partners, social platforms, and large language model capabilities to reach consumers. Management also said Ralph Lauren Christmas was trending organically again, particularly around Polo Bear products and the home collection.
- Long-Term Growth Opportunity and Brand StrengthManagement said the core consumer remains resilient across key markets, brand affinity scores are at record levels, and the company is taking market share across markets. It identified significant growth opportunities in China, Korea, Germany, North America, and other key cities while remaining halfway through the three-year Next Great Chapter: Drive phase.
CH:PRL Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 11, 2027 | 2027 (Q3) | 5.68- | 5.13 | ― | ― |
| Nov 05, 2026 | 2027 (Q2) | 3.513.83 | 3.13 | 22.43% (+0.70) | |
| Aug 06, 2026 | 2027 (Q1) | 3.573.79 | 3.11 | 21.75% (+0.68) | |
| May 21, 2026 | 2026 (Q4) | 2.102.31 | 1.87 | 23.35% (+0.44) | |
| Feb 05, 2026 | 2026 (Q3) | 4.805.13 | 3.98 | 29.05% (+1.16) | |
| Nov 06, 2025 | 2026 (Q2) | 2.853.13 | 2.1 | 49.21% (+1.03) | |
| Aug 07, 2025 | 2026 (Q1) | 2.903.11 | 2.23 | 39.63% (+0.88) | |
| May 22, 2025 | 2025 (Q4) | 1.691.87 | 1.41 | 32.75% (+0.46) | |
| Feb 06, 2025 | 2025 (Q3) | 3.743.98 | 3.44 | 15.59% (+0.54) | |
| Nov 07, 2024 | 2025 (Q2) | 1.992.10 | 1.73 | 20.95% (+0.36) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
