Ralph Lauren — May 21, 2026 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, centered around 4% to 5%. The Company expects operating margin for Fiscal 2027 to expand approximately 40 to 60 basis points in constant currency, driven by modest gross margin expansion and operating expense leverage. Gross and operating margin expansion are 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 of 10% during the period. 5 Based on current exchange rates, foreign currency is expected to have a roughly neutral impact on revenue, 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 first quarter, the Company expects revenues to increase approximately mid- to high-single digits to last year on a constant currency basis. Operating margin for the first quarter is expected to expand approximatel y 80 to 120 basis points in constant currency, led by gross margin expansion. Foreign currency is expected to have a roughly neutral impact on revenue, gross and operating margin in the first quarter. The full year Fiscal 2027 tax rate is expected to be in the range of 21% to 22%, assuming a continuation of current tax l