Ralph Lauren designs and sells branded apparel, accessories, fragrances and home products through its own stores and websites, wholesale partners and licensing. Manufacturing is outsourced.
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A snapshot of what RALPH LAUREN CORP owns and owes at a point in time.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Mar 30, 20240001037038-24-000014 | May 23, 2024 | 10-K | Open 10-Ksec.gov |
| Mar 29, 20250001037038-25-000011 | May 22, 2025 | 10-K | Open 10-Ksec.gov |
| Mar 28, 20260001628280-26-037074 | May 21, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Ralph Lauren entered Fiscal 2027 with growing sales and stronger operating profitability, especially in Asia. Revenue in the quarter ended June 27, 2026 rose 14.0% to $1,959.8 million, while GAAP operating income increased 25.2%. Management raised its annual outlook in August. However, wholesale shipment timing supported growth, Europe’s comparable sales increased only 1%, and share repurchases helped earnings per share. Cash generation improved, but repurchases, employee share-tax withholding and dividends exceeded operating cash flow after capital spending. Cash and investments exceeded senior-note debt at quarter-end, although that comparison excludes substantial lease obligations and much of the money was held abroad. Tariffs, wholesale credit exposure and a multiyear technology transformation remain material dependencies; the announced November leadership transition was still prospective as of October 24, 2026.
Sources: 10-Q · 2026-06-27 · EX-99.1 · 2026-08-06 · 8-K · 2026-08-31 · EX-99.1 · 2026-08-31
Own-store and digital retail generated $5,532.6 million of Fiscal 2026 revenue, versus $2,439.4 million from wholesale and $142.5 million from licensing. Retail drove most of the dollar growth. Licensees generally fund their own development, infrastructure and inventory, while Ralph Lauren earns royalties. Outsourcing production avoids factory ownership but leaves sourcing, inventory and supplier dependencies. Approximately 59% of annual revenue came from outside the United States.
Management is pursuing higher-end positioning, international and digital expansion, and growth in women’s apparel, outerwear and handbags. Higher average unit retail reflects product and channel mix and more full-price selling—not simply higher prices for identical goods or greater unit sales. The supporting Next Generation Transformation project redesigns processes and technology; its benefits remain objectives rather than quantified realized savings.
Sources: 10-K · 2026-03-28 · EX-99.1 · 2026-08-06
Following Fiscal 2026 revenue of $8,114.5 million and GAAP net income of $941.1 million, the August 6 filings reported first-quarter Fiscal 2027 revenue growth of 14.0%, or 13.4% in constant currency. Asia revenue grew 24.3% reported, with 23% comparable-sales growth. Europe’s comparable sales rose only 1%. Approximately 15 percentage points of North American wholesale growth came from resumed shipments and shipments shifted from the prior quarter; European wholesale growth included approximately five points from shipments brought forward from the second quarter.
Quarterly GAAP operating income reached $342.4 million and margin rose to 17.5% from 15.9%. Management attributed gross-margin improvement to average unit retail and favorable mix outweighing tariffs and product costs. Net income increased to $262.2 million from $220.4 million, while diluted EPS rose to $4.28 from $3.52; fewer diluted shares helped EPS, and a higher tax rate restrained profit growth. Adjusted EPS was $4.59. Its $23.5 million pretax operating adjustment included transformation, restructuring and exited-property costs, offset by a $1.3 million bad-debt reversal. Transformation costs recur across multiple years and should not be treated as an isolated one-off. Seasonality makes this quarter unsuitable for annualization.
Sources: 10-K · 2026-03-28 · EX-99.1 · 2026-08-06 · 10-Q · 2026-06-27
Quarterly operating cash flow increased to $339.3 million from $176.1 million, helped by earnings and a smaller seasonal inventory build—not inventory liquidation. Capex fell to $53.4 million from $187.3 million; the specific prior-year projects behind the decline are not established. Operating cash flow less capex was a calculated $285.9 million, not profit. Repurchases including employee tax-withholding shares consumed $325.1 million, and dividends another $54.8 million. The $250.0 million program-repurchase amount is included in, not additional to, that cash outflow. Supplier-finance obligations rose to $268.4 million from $172.1 million and remain within accounts payable.
At June 27, cash was $1,719.0 million and short-term investments $222.6 million, against $1,239.4 million of senior-note carrying value. The company’s $702.2 million net-cash measure excludes $1,536.7 million of operating leases and $227.8 million of finance leases. Approximately $1,593 million of cash and investments was held abroad; repatriation could incur taxes. Note principal matures in 2030 ($750 million) and 2032 ($500 million). The undrawn revolver and commercial-paper program share one $750 million limit, with approximately $741 million available at quarter-end—not cash. The revolver matures June 30, 2028 and requires leverage no greater than 4.25 times under its contractual definition. No default was reported, but actual covenant headroom was not disclosed. Failure by Ralph Lauren and Lauren-family-controlled entities to maintain specified minimum voting power is also an event of default, potentially stopping loans, terminating the facility or accelerating repayment. The exact threshold and exceptions are not established by the supplied disclosures.
Sources: 10-Q · 2026-06-27 · 10-K · 2026-03-28
On August 6, management raised Fiscal 2027 comparable 52-week constant-currency revenue-growth guidance to 5%–6% from May’s 4%–5%, and adjusted operating-margin expansion to 60–80 basis points in constant currency from the prior 40–60 basis points, also in constant currency. The 53rd week is expected to add approximately one percentage point to revenue growth, while currency is expected to subtract 50–100 basis points. Annual capex remains forecast at 4%–5% of revenue. Stronger first-half margin expansion depends partly on marketing timing and lower prevailing first-half tariffs. Guidance excludes future restructuring-related and other charges and cannot be fully reconciled to GAAP because those charges are unknown.
Sources: EX-99.1 · 2026-05-21 · EX-99.1 · 2026-08-06
Approximately 96% of products were produced outside the United States, making tariffs and sourcing changes consequential. Eligible tariff-refund claims have been submitted, but approval, amount and collection timing remain uncertain. Three wholesale customers represented 23% of gross receivables at June 27; unsecured customer credit and inventory markdown estimates remain exposures. Technology transformation can disrupt operations, and its remaining budget and realized savings are not quantified. The Lauren family held approximately 85% of voting power at March 28. Shareholders completed director elections, auditor ratification and advisory compensation approval on July 30, reported August 3; these votes do not establish compensation fairness or director independence.
Ranftl notified the company of his retirement on August 31. The September 3 announcement schedules Halide Alagöz’s move to Chief Operating & Product Officer for November 29, adding AI strategy and architecture/design responsibilities. CFO Justin Picicci will add real estate and logistics, and marketing chief Iris Langlois-Meurinne will add licensing. Katie Ioanilli will add Design with Intent, without a separately explicit effective date. These are announced responsibility changes, not completed implementation or quantified financial benefits.
Sources: 10-K · 2026-03-28 · 10-Q · 2026-06-27 · 8-K · 2026-07-30 · 8-K · 2026-08-31 · EX-99.1 · 2026-08-31
USD 8.1145 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 8.1145 bn | 14.6% |
| 2025 | USD 7.079 bn | 6.7% |
| 2024 | USD 6.6314 bn | — |
Consolidated net revenue from retail, wholesale and licensing, after applicable returns and allowances.
Sources: 10-K · 2026-03-28
USD 941.1 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 941.1 m | 26.7% |
| 2025 | USD 742.9 m | 14.9% |
| 2024 | USD 646.3 m | — |
Consolidated net income after income taxes, including restructuring and other charges.
Sources: 10-K · 2026-03-28
USD 1.1542 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 1.1542 bn | -6.6% |
| 2025 | USD 1.2351 bn | 15.5% |
| 2024 | USD 1.0697 bn | — |
GAAP operating cash flow after working-capital movements and operating cash taxes; not net income.
Sources: 10-K · 2026-03-28
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