Q1 2026 Ralph Lauren Corp Earnings Call Transcript
Key Points
- Ralph Lauren Corp (RL) reported strong first-quarter results, exceeding expectations across both top and bottom lines.
- The company achieved double-digit top-line growth in Asia and Europe, and high single-digit growth in North America, with global comps up 13%.
- Ralph Lauren Corp (RL) added 1.4 million new customers to its direct-to-consumer businesses, with a focus on digital and full-price store customers.
- The company successfully expanded its presence in key cities, opening 24 new owned and partner stores globally, including its first store in Vancouver.
- Ralph Lauren Corp (RL) increased its full-year guidance based on strong early performance, despite remaining cautious about the second half of the year.
- Ralph Lauren Corp (RL) remains cautious about the second half of the year due to potential tariff-related pressures on consumer behavior.
- The company plans to exit another 90 to 100 wholesale doors in fiscal '26, indicating challenges in the wholesale channel.
- Despite strong performance, the company faces macroeconomic uncertainties, including tariffs, inflationary pressures, and supply chain disruptions.
- The North American market is expected to face increased pressure from cost inflation and pricing as the year progresses.
- Ralph Lauren Corp (RL) anticipates significant deceleration in Europe in the second half of the year due to timing shifts and macroeconomic factors.
Ladies and gentlemen, thank you for standing by. Welcome to the Ralph Lauren first-quarter fiscal year 2026 earnings call. (Operator Instructions) As a reminder, this conference is being recorded.
I'd like to turn over the conference to our host, Ms. Corinna Van der Ghinst. Please go ahead.
Good morning and thank you for joining Ralph Lauren's first quarter fiscal 2026 conference call. With me today are Patrice Louvet, the company's President and Chief Executive Officer; and Justin Picicci, Chief Financial Officer. After prepared remarks, we will open up the call for your questions, which we ask that you limit to one per caller.
During today's call, our financial performance will be discussed on a constant currency adjusted basis. Our reported results, including foreign currency can be found in this morning's press release. We will also be making some forward-looking statements within the meaning of the federal securities laws, including our financial outlook.
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