Ralph Lauren — Aug 7, 2025 release

For Fiscal 2026, the Company now expects revenues to increase low- to mid-single digits on a constant currency basis. Based on current exchange rates, foreign currency is expected to benefit revenue growth by approximately 150 to 200 basis points in Fiscal 2026. The Company now expects operating margin for Fiscal 2026 to expand approximately 40 to 60 basis points in constant currency, up from its prior outlook, driven primarily by operating expense leverage. Foreign currency is now expected to benefit gross and operating margins by approximately 10 and 40 basis points, respectively. For the second quarter, the Company expects revenues to grow approximately high-single digits on a constant currency basis. Foreign currency is expected to benefit revenue growth by approximately 100 to 150 basis points. Operating margin for the second quarter is expected to expand approximately 120 to 160 basis points in constant currency, driven primarily by operating expense leverage. Foreign currency is expected to benefit gross and operating margins by approximately 10 and 20 basis points, respectively. The Company's full year Fiscal 2026 tax rate is expected to be in the range of approximately 19% to 20%. The second quarter tax rate is expected to be approximately 15% to 17%. The Company continues to expect capital expenditures for Fiscal 2026 of approximately 4% to 5% of revenue. 4 Conference Call As previously announced, the Company will host a conference call and live online webcast today, Thursday, August 7, 2025, at 9:00 A.M. Eastern. Listeners may access a live broadcas