How did Ralph Lauren perform in the fourth quarter of fiscal 2026?

Revenue rose 17% to $2.0 billion on a reported basis and 12% in constant currency. Reported operating margin was 9.5% and adjusted operating margin was 11.0%, 70 basis points above the prior year. Asia revenue grew 31% reported, Europe grew 18% reported (6% constant currency), and North America grew 8%.

What is the company's outlook for fiscal 2027?

The company expects constant currency revenue to increase approximately mid-single digits, centered around 4% to 5%, and constant currency operating margin to expand approximately 40 to 60 basis points. Foreign currency is expected to be roughly neutral. The company describes the outlook as preliminary and subject to change, and it excludes potential future restructuring-related charges. Fiscal 2027 includes a 53rd week, which is expected to add about 1 point to revenue growth.

What did the company announce about its dividend?

The Board of Directors approved a 10% increase in the regular quarterly cash dividend to $1.00 per share, for a total annual dividend of $4.00 per share. The next quarterly dividend is expected to be paid on July 10, 2026 to shareholders of record at the close of business on June 26, 2026.

How strong is the balance sheet and how much capital was returned to shareholders?

At fiscal year-end the company had $2.1 billion in cash and short-term investments and $1.2 billion in total debt, compared with $2.1 billion and $1.1 billion a year earlier. It returned more than $700 million to shareholders in fiscal 2026 through dividends and repurchases of Class A Common Stock, including approximately $500 million of repurchases, with $1.4 billion remaining on its repurchase plan.

What drove the change in profitability for fiscal 2026?

Full-year reported operating margin was 14.5% and adjusted operating margin was 16.0%, 200 basis points above the prior year on an adjusted basis. Gross margin was 69.9%, 130 basis points above the prior year on an adjusted basis, driven by favorable mix, AUR growth and lower cotton costs, partly offset by increased U.S. tariffs. Adjusted operating expense rate improved 70 basis points to 53.9%.

RL 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed May 21, 2026. Cited figures are marked; the original filing is the authoritative source.

Ralph Lauren Corporation reported fourth quarter and full year fiscal 2026 results (fiscal year ended March 28, 2026) in a press release furnished as Exhibit 99.1 under Item 2.02.

For the fourth quarter, net revenues rose 17% to $2.0 billion^a on a reported basis and 12% in constant currency. Reported diluted EPS was $2.45 versus $2.03 a year earlier, and adjusted diluted EPS (excluding restructuring-related and other net charges) was $2.80 versus $2.27. Global direct-to-consumer comparable store sales increased 17% in the quarter and 13% for the full year.

Asia led growth with fourth-quarter revenue up 31% on a reported basis, while Europe rose 18% reported (6% constant currency) and North America rose 8%. For full fiscal 2026, revenue increased 15% to $8.1 billion^b on a reported basis (12% in constant currency), reported operating margin was 14.5% and adjusted operating margin was 16.0%. Reported diluted EPS was $15.11 and adjusted diluted EPS was $16.59.

The company ended the year with $2.1 billion^c in cash and short-term investments and $1.2 billion in total debt, and returned more than $700 million to shareholders through dividends and repurchases. The Board approved a 10% increase in the quarterly dividend to $1.00 per share. For fiscal 2027, the company provided a preliminary outlook calling for constant currency revenue growth of approximately mid-single digits (centered around 4% to 5%) and constant currency operating margin expansion of approximately 40 to 60 basis points.

The outlook is described as preliminary and subject to change given the volatile operating environment, and it excludes potential future restructuring-related charges. Fiscal 2027 is a 53-week year.

02—Key points

Key Highlights

Fourth-quarter revenue rose 17% to $2.0 billion reported (12% constant currency); full-year revenue rose 15% to $8.1 billion reported (12% constant currency).
Fourth-quarter reported diluted EPS was $2.45 versus $2.03 a year earlier; adjusted diluted EPS was $2.80 versus $2.27.
Full-year reported diluted EPS was $15.11 (vs. $11.61); adjusted diluted EPS was $16.59 (vs. $12.33).
Global direct-to-consumer comparable store sales increased 17% in the fourth quarter and 13% for the full year, with Asia comparable store sales up 25% in the quarter.
Board approved a 10% increase in the quarterly cash dividend to $1.00 per share ($4.00 annualized), payable July 10, 2026.
Fiscal 2027 preliminary outlook: constant currency revenue growth of approximately mid-single digits (centered around 4% to 5%) and operating margin expansion of approximately 40 to 60 basis points.
Balance sheet: $2.1 billion in cash and short-term investments against $1.2 billion in total debt; $1.4 billion remained on the share repurchase plan at fiscal year-end.

03—Questions

Frequently Asked Questions

How did Ralph Lauren perform in the fourth quarter of fiscal 2026?
Revenue rose 17% to $2.0 billion on a reported basis and 12% in constant currency. Reported operating margin was 9.5% and adjusted operating margin was 11.0%, 70 basis points above the prior year. Asia revenue grew 31% reported, Europe grew 18% reported (6% constant currency), and North America grew 8%.
What is the company's outlook for fiscal 2027?
The company expects constant currency revenue to increase approximately mid-single digits, centered around 4% to 5%, and constant currency operating margin to expand approximately 40 to 60 basis points. Foreign currency is expected to be roughly neutral. The company describes the outlook as preliminary and subject to change, and it excludes potential future restructuring-related charges. Fiscal 2027 includes a 53rd week, which is expected to add about 1 point to revenue growth.
What did the company announce about its dividend?
The Board of Directors approved a 10% increase in the regular quarterly cash dividend to $1.00 per share, for a total annual dividend of $4.00 per share. The next quarterly dividend is expected to be paid on July 10, 2026 to shareholders of record at the close of business on June 26, 2026.
How strong is the balance sheet and how much capital was returned to shareholders?
At fiscal year-end the company had $2.1 billion in cash and short-term investments and $1.2 billion in total debt, compared with $2.1 billion and $1.1 billion a year earlier. It returned more than $700 million to shareholders in fiscal 2026 through dividends and repurchases of Class A Common Stock, including approximately $500 million of repurchases, with $1.4 billion remaining on its repurchase plan.
What drove the change in profitability for fiscal 2026?
Full-year reported operating margin was 14.5% and adjusted operating margin was 16.0%, 200 basis points above the prior year on an adjusted basis. Gross margin was 69.9%, 130 basis points above the prior year on an adjusted basis, driven by favorable mix, AUR growth and lower cotton costs, partly offset by increased U.S. tariffs. Adjusted operating expense rate improved 70 basis points to 53.9%.

04—Continue

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