Ralph Lauren (RL) official guidance

Additionally, we now anticipate mid to high single-digit AUR growth for the full year, with contributions from all regions.

We currently expect mid to high single-digit AUR growth in the second quarter of fiscal 2027, reflecting our ongoing brand elevation strategy.

We expect our second quarter tax rate to be in the range of 19%-20%, while the full-year tax rate is still expected to be approximately 21%-22%.

We expect our second quarter tax rate to be in the range of 19%-20%, while the full-year tax rate is still expected to be approximately 21%-22%.

At the same time, we are raising our full-year gross margin outlook to roughly 50 basis points-70 basis points of expansion, up from our prior expectation of modest expansion, reflecting our stronger-than-expected Q1 performance.

For Q2 specifically, we guided gross margin of 80 basis points-100 basis points of expansion.

With compelling ROI behind these activities, we still expect marketing as a percentage of sales to step up to approximately 8% in fiscal 2027.

We now expect full-year operating margin to expand approximately 60 basis points-80 basis points in constant currency, up from our prior guidance of 40 basis points-60 basis points, driven by our better-than-expected Q1 results.

We expect operating margin to expand approximately 80 basis points-100 basis points in constant currency, led by gross margin expansion.

We now expect Asia revenue to increase approximately high single to low double digits, up from our prior outlook of high single-digit growth, driven by our stronger-than-expected Q1 results and ongoing brand momentum and expansion opportunities across key markets in the region.

For Q2, Asia is going to lead growing mid-teens, followed by North America, where we're expecting another solid quarter of mid-single-digit growth and with modest growth coming from EMEA, despite a more pressured consumer environment and the strong compares in the prior year.

As we look ahead for this fiscal year, we expect China to be around mid-teens, right? Remember, in the back half, we're going to be anniversarying some pretty high levels of performance.

For Q2, Asia is going to lead growing mid-teens, followed by North America, where we're expecting another solid quarter of mid-single-digit growth and with modest growth coming from EMEA, despite a more pressured consumer environment and the strong compares in the prior year.

We continue to expect Europe revenue to increase approximately low to mid-single digits, with underlying growth tempered by ongoing uncertainty in the consumer environment from elevated energy costs and disruption to Middle East partner sales and tourism, as well as lapping strong fiscal 2026 compares.

By region for fiscal 2027, we still expect North America revenue to grow approximately low single digits.

For Q2, Asia is going to lead growing mid-teens, followed by North America, where we're expecting another solid quarter of mid-single-digit growth and with modest growth coming from EMEA, despite a more pressured consumer environment and the strong compares in the prior year.

For fiscal 2027, we expect constant currency revenue to increase mid-single digits to last year on a 52-week comparable basis, now centered around 5%-6%, up from 4%-5% previously, reflecting our better-than-expected first quarter results and continued brand momentum despite a volatile global operating environment.

For the second quarter, we expect constant currency revenue to increase approximately mid-single digits, centered around 5%-6%.

The Company continues to expect capital expenditures for Fiscal 2027 of approximately 4% to 5% of revenue.

Gross and operating margin expansion are still 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 through the first half of the fiscal year.