RL
RL
RL What Ralph Lauren promised, and what happened
Guidance
What management said, and what became of it
26 of 26 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q1 FY27 operating margin expansion (constant currency) | approximately 80 to 120 basis points | Mar 2026 | First quarter adjusted operating margin expanded 150 basis points to 18.5%, ahead of our plan, while operating income grew 23%. | Achieved |
| FY27 AUR growth | continued, more normalized mid-single-digit growth | Mar 2026 | we now anticipate mid- to high single-digit AUR growth for the full year, with contributions from all regions. | Revised Up |
| 3-year marketing spend as % of sales range, Next Great Chapter: Drive plan (FY26-FY28) | 7.5% to 8.5% | Dec 2025 | I think we feel good about the 7.5 to 8.5 3-year guide that we laid out back in September. | On Track |
The full ledger
Open Ralph Lauren’s full ledger
A free account opens 5 company ledgers a month. All 46 tracked commitments, with each call’s wording and source.
The rest of the ledger
Pro opens all 46 tracked commitments for Ralph Lauren
Above is what the last two calls moved. Pro adds every quarter's revision, the source quote behind each one, and the topics management has stopped answering.