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Ralph Lauren
Ralph Lauren (RL) investor relations material
Ralph Lauren Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Feb, 2026
Executive summary
Q3 revenue rose between 10% and 12.2% year-over-year, surpassing expectations, with strong performance across all geographies, channels, and product categories, driven by robust holiday sales and strong consumer engagement.
Net income increased up to 21.6% to $361.6 million, with diluted EPS rising as high as 24.9% to $5.82, supported by higher operating income and lower share count.
The company advanced its strategic plan, focusing on brand elevation, core product growth, and expansion in key cities, supported by technology, AI, and analytics.
Added up to 2.1 million new direct-to-consumer customers in Q3, with strong acquisition among younger, female, and high-value customers.
Raised full-year revenue and operating margin outlook based on robust year-to-date performance.
Financial highlights
Q3 revenue grew up to 12.2% year-over-year to $2.406 billion, with Asia up to 22.4%, North America up to 8.1%, and Europe up to 16%.
Gross margin improved up to 150 bps to 69.9%, driven by AUR growth, favorable mix, and lower cotton costs.
Adjusted operating margin expanded up to 230 bps to 20.7%; operating profit increased up to 21%.
Free cash flow reached up to $1.1 billion for the nine months, with $500 million returned to shareholders fiscal year-to-date.
Ended Q3 with up to $2.3 billion in cash and $1.2 billion in total debt; inventory changes ranged from up 10% to down 5% year-over-year.
Outlook and guidance
Fiscal 2026 constant currency revenue growth outlook raised to high single to low double digits; fiscal 2025 revenue growth expected at 6–7% with negative FX impact.
Full-year operating margin expected to expand 100–160 bps; gross margin to expand 40–80 bps.
Q4 revenue expected to grow mid-single digits; Q4 operating margin to contract 80–120 bps due to tariffs and timing shifts.
CapEx to remain at 4%–5% of sales, focused on digital, AI, infrastructure, and store investments.
Full-year tax rate expected at 19%–23%.
What drives sustained AUR growth and full-price selling?
Explain NA vs Asia digital commerce growth disparity.
Detail FY25 CapEx allocation for strategic growth.
Sustaining AUR growth without price resistance
North America wholesale long-term strategy
Ask Ralph's evolution and future capabilities
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Next Ralph Lauren earnings date
Q4 202621 May, 2026
Ralph Lauren
Next Ralph Lauren earnings date
Q4 202621 May, 2026
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Frequently asked questions
Founded in 1967, Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company operates in four segments: Fashion and Retail Licensing; Retail; Wholesale and Licensing; and Corporate. The Fashion and Retail Licensing segment licenses the Ralph Lauren name to other manufacturers for use on a wide range of products, such as clothing, accessories, fragrances, home furnishings, and decorative items. The Retail segment sells the Company's own brands worldwide through its retail stores under the Polo Ralph Lauren (Ralph Lauren lifestyle collections), Polo brand (Ralph Lauren apparel), and RRL brand (workwear) names. The Wholesale and Licensing segment consists of wholesale operations licensed to sell the Company's brands through department stores or specialty stores worldwide or direct-to-consumer, including through websites. Ralph Lauren Corporation is based in New York, New York.
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