Analyst Consensus ?
ConsensusBuy48 ratings
Bullish3266.7%
Neutral1327.1%
Bearish36.2%
Ralph Lauren Corporation · RL · FY2026 Q2 · Calendar Q4 2025
Ralph Lauren Raises Outlook as Q2 Growth and Margins Accelerate
The current call supports a constructive operating thesis: strong brand demand, full-price mix, direct-to-consumer expansion, and international growth are translating into revenue and margin gains. The evidence is positive but not one-sided, because tariff exposure, consumer elasticity, and the sustainability of AUR growth remain material tests.
Reported Before market openNYSEConsumer Cyclical
$22.18B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$3.79
Consensus $3.45
EPS surprise
+9.9%
Reported versus consensus
Reported revenue
$2.01B
Consensus $1.89B
Revenue surprise
+6.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.6%
Event window
SPY move
-1.1%
Same window
Abnormal move
+0.5%
Stock minus SPY
Volume
3.5×
Versus trailing sessions
Subsequent drift
+16.9%
Up to 20 sessions
RLSPY benchmark
Ask FN2 about RL FY2026 Q2
Transcript, numbers and history already loaded
Why did RL fall 0.6% after beating EPS estimates in FY2026 Q2?What changed in RL's guidance and outlook in FY2026 Q2?Give me the bull and bear case for RL after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Versus the prior-quarter analysis, the reported picture strengthened: Q2 growth accelerated to 14% constant currency, AUR increased 12%, margins expanded, and full-year guidance was raised. Management also highlighted the Ask Ralph AI tool, further store expansion, and continued China digital investment, while maintaining caution about tariffs and macro conditions.
Guidance delta
Management raised full-year revenue guidance to 5–7% growth and expects operating-margin improvement of 60–80 basis points.
Key takeaways
- Q2 revenue grew 14% year over year on a constant-currency basis, while average unit retail rose 12%.
- Adjusted operating margin expanded 210 basis points to 13.5%, with gross margin up 70 basis points.
- China sales grew more than 30% year over year as direct-to-consumer and digital initiatives expanded.
Management priorities
- Expand direct-to-consumer stores in leading and emerging cities.
- Scale the Ask Ralph AI styling assistant and digital commerce in China.
- Continue brand activations, product-category expansion, and international growth.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$363.37Current
$102Low
$303.06Average
$511High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Aug 7, 2026 |
| Telsey Advisory Group | Outperform | Outperform | Maintain | Aug 7, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 7, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 7, 2026 |
| BTIG | Buy | Buy | Maintain | Aug 7, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 7, 2026 |
| Needham | Buy | Buy | Maintain | Aug 6, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 4, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 21, 2026 |
| Raymond James | Outperform | Market Perform | Upgrade | Jul 21, 2026 |
| B of A Securities | Buy | Buy | Maintain | Apr 16, 2026 |
| Jefferies | Buy | Buy | Maintain | Feb 6, 2026 |
| Argus Research | Buy | Buy | Maintain | Jan 15, 2026 |
| TD Cowen | Buy | Buy | Maintain | Sep 30, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | May 23, 2025 |
| BMO Capital | Underperform | Underperform | Maintain | May 23, 2025 |
| Guggenheim | Buy | Buy | Maintain | Feb 7, 2025 |
| Wedbush | Neutral | Neutral | Maintain | Aug 11, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Aug 11, 2023 |
| OTR Global | Positive | Mixed | Upgrade | Apr 28, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 10, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 10, 2023 |
| Truist Securities | Buy | Buy | Maintain | Dec 16, 2021 |
| RBC Capital | Outperform | Sector Perform | Upgrade | Jan 15, 2021 |
| CFRA | Hold | Hold | Maintain | May 27, 2020 |
| PiperJaffray | Neutral | Neutral | Maintain | Nov 8, 2019 |
| Piper Sandler | Neutral | Neutral | Maintain | Nov 8, 2019 |
| Atlantic Equities | Overweight | Neutral | Upgrade | Sep 24, 2019 |
| Bank of America | Underperform | Underperform | Maintain | Aug 26, 2019 |
| Nomura | Neutral | Neutral | Maintain | May 15, 2019 |
| Buckingham Research | Buy | Neutral | Upgrade | Jan 9, 2019 |
| Buckingham | Buy | Neutral | Upgrade | Jan 9, 2019 |
| Miller Tabak | Sell | Hold | Downgrade | Nov 20, 2017 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Nov 3, 2017 |
| Tigress Financial | Neutral | Neutral | Maintain | May 25, 2017 |
| CLSA | Buy | Buy | Maintain | Sep 28, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Sep 27, 2016 |
| Brean Capital | Hold | Hold | Maintain | Aug 11, 2016 |
| Standpoint Research | Hold | Buy | Downgrade | Aug 8, 2016 |
| BB&T Capital | Buy | Buy | Maintain | May 20, 2016 |
| Susquehanna | Outperform | Positive | Maintain | Nov 3, 2015 |
| Stephens & Co. | Overweight | Equal Weight | Upgrade | Jul 13, 2015 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Jan 9, 2015 |
| Janney Capital | Neutral | Buy | Downgrade | Jan 9, 2015 |
| ISI Group | Strong Buy | Buy | Upgrade | Sep 9, 2014 |
| McNicoll Lewis Vlak | Buy | Buy | Maintain | May 12, 2014 |
| Maxim Group | Buy | Buy | Maintain | Apr 22, 2014 |
| Bank oferica | Neutral | Neutral | Maintain | Feb 10, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $363.37. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Telsey Advisory | Dana Telsey | $470 | $395.63 | +29.3% | Aug 7, 2026 |
| Raymond James | Analyst unavailable | $425 | $397.6 | +17.0% | Aug 7, 2026 |
| Evercore ISI | Analyst unavailable | $460 | $389.42 | +26.6% | Aug 7, 2026 |
| BTIG | Analyst unavailable | $460 | $395.83 | +26.6% | Aug 7, 2026 |
| Barclays | Paul Kearney | $463 | $395.83 | +27.4% | Aug 7, 2026 |
| Deutsche Bank | Krisztina Katai | $446 | $395.83 | +22.7% | Aug 7, 2026 |
| Needham | Tom Nikic | $450 | $395.83 | +23.8% | Aug 6, 2026 |
| Deutsche Bank | Krisztina Katai | $441 | $379.22 | +21.4% | Aug 4, 2026 |
| Wells Fargo | Analyst unavailable | $425 | $376.48 | +17.0% | Jul 21, 2026 |
| Raymond James | Analyst unavailable | $410 | $376.48 | +12.8% | Jul 21, 2026 |
| Telsey Advisory | Analyst unavailable | $460 | $407.84 | +26.6% | Jun 23, 2026 |
| Deutsche Bank | Analyst unavailable | $437 | $372.43 | +20.3% | May 22, 2026 |
| UBS | Jay Sole | $511 | $375.34 | +40.6% | May 22, 2026 |
| Wells Fargo | Analyst unavailable | $415 | $374.8 | +14.2% | May 22, 2026 |
| Barclays | Analyst unavailable | $439 | $374.8 | +20.8% | May 22, 2026 |
| Needham | Tom Nikic | $405 | $375.88 | +11.5% | May 21, 2026 |
| UBS | Analyst unavailable | $480 | $359.66 | +32.1% | May 5, 2026 |
| Evercore ISI | Analyst unavailable | $420 | $337.61 | +15.6% | Feb 6, 2026 |
| UBS | Analyst unavailable | $477 | $341.35 | +31.3% | Feb 6, 2026 |
| BTIG | Bob Drbul | $435 | $338.66 | +19.7% | Feb 6, 2026 |
| Barclays | Paul Kearney | $416 | $338.66 | +14.5% | Feb 6, 2026 |
| UBS | Analyst unavailable | $474 | $353.82 | +30.4% | Jan 28, 2026 |
| Deutsche Bank | Krisztina Katai | $422 | $366.18 | +16.1% | Jan 8, 2026 |
| UBS | Analyst unavailable | $473 | $360.94 | +30.2% | Jan 8, 2026 |
| Barclays | Analyst unavailable | $409 | $358.52 | +12.6% | Jan 6, 2026 |
| Telsey Advisory | Analyst unavailable | $435 | $366.61 | +19.7% | Dec 17, 2025 |
| Wells Fargo | Analyst unavailable | $400 | $371.66 | +10.1% | Dec 16, 2025 |
| Jefferies | Analyst unavailable | $425 | $367.5 | +17.0% | Dec 12, 2025 |
| Wells Fargo | Ike Boruchow | $385 | $355.89 | +6.0% | Dec 3, 2025 |
| Evercore ISI | Analyst unavailable | $375 | $319.66 | +3.2% | Nov 3, 2025 |
| Jefferies | Analyst unavailable | $385 | $338.47 | +6.0% | Oct 23, 2025 |
| UBS | Analyst unavailable | $421 | $332.12 | +15.9% | Oct 23, 2025 |
| BTIG | Analyst unavailable | $400 | $317.92 | +10.1% | Oct 14, 2025 |
| Barclays | Analyst unavailable | $352 | $317.23 | -3.1% | Oct 14, 2025 |
| Telsey Advisory | Dana Telsey | $350 | $306.12 | -3.7% | Sep 17, 2025 |
| Jefferies | Analyst unavailable | $365 | $306.12 | +0.4% | Sep 17, 2025 |
| Needham | Analyst unavailable | $335 | $299.24 | -7.8% | Aug 5, 2025 |
| Telsey Advisory | Analyst unavailable | $335 | $304.45 | -7.8% | Aug 4, 2025 |
| Wells Fargo | Ike Boruchow | $300 | $273.96 | -17.4% | May 23, 2025 |
| UBS | Jay Sole | $384 | $274.08 | +5.7% | May 23, 2025 |
| Wells Fargo | Ike Boruchow | $275 | $264.51 | -24.3% | May 14, 2025 |
| Barclays | Paul Kearney | $260 | $219.96 | -28.4% | Apr 28, 2025 |
| Goldman Sachs | Analyst unavailable | $262 | $209.59 | -27.9% | Apr 22, 2025 |
| UBS | Jay Sole | $315 | $237.34 | -13.3% | Jan 10, 2025 |
| Telsey Advisory | Dana Telsey | $247 | $219.02 | -32.0% | Nov 8, 2024 |
| Citigroup | Paul Lejuez | $189 | $203.03 | -48.0% | Oct 29, 2024 |
| Wells Fargo | Ike Boruchow | $205 | $199.19 | -43.6% | Oct 23, 2024 |
| CFRA | Zachary Warring | $171 | $203.24 | -52.9% | Oct 17, 2024 |
| Barclays | Paul Kearney | $200 | $159.39 | -45.0% | Aug 8, 2024 |
| Raymond James | Rick Patel | $195 | $171.46 | -46.3% | May 24, 2024 |
| Wells Fargo | Ike Boruchow | $180 | $169.57 | -50.5% | May 24, 2024 |
| CFRA | Zachary Warring | $160 | $169.57 | -56.0% | May 23, 2024 |
| BMO Capital | Simeon Siegel | $113 | $168.48 | -68.9% | May 23, 2024 |
| UBS | Jay Sole | $250 | $166.98 | -31.2% | May 16, 2024 |
| Jefferies | Ashley Helgans | $195 | $167.03 | -46.3% | Apr 30, 2024 |
| Goldman Sachs | Ralph Lauren | $132 | $138.39 | -63.7% | Dec 13, 2023 |
| J.P. Morgan | Matthew Boss | $141 | $128.49 | -61.2% | Aug 10, 2023 |
| Telsey Advisory | Dana Telsey | $155 | $132.78 | -57.3% | Aug 4, 2023 |
| Telsey Advisory | Dana Telsey | $140 | $117.71 | -61.5% | Feb 9, 2023 |
| Cowen & Co. | Cowen Cowen | $132 | $100.12 | -63.7% | Nov 17, 2022 |
| UBS | Jay Sole | $130 | $100.24 | -64.2% | Nov 11, 2022 |
| UBS | Jay Sole | $162 | $99.79 | -55.4% | Jun 13, 2022 |
| Credit Suisse | Michael Binetti | $130 | $93.24 | -64.2% | May 20, 2022 |
| Wells Fargo | Ike Boruchow | $110 | $105.61 | -69.7% | Apr 9, 2022 |
| Deutsche Bank | Gabriella Carbone | $136 | $117.95 | -62.6% | Feb 4, 2022 |
| Evercore ISI | Omar Saad | $160 | $117.95 | -56.0% | Feb 4, 2022 |
| Truist Financial | Beth Reed | $156 | $117 | -57.1% | Feb 3, 2022 |
| Cowen & Co. | John Kernan | $171 | $117 | -52.9% | Feb 3, 2022 |
| Goldman Sachs | Brooke Roach | $110 | $115.48 | -69.7% | Dec 14, 2021 |
| BMO Capital | Simeon Siegel | $110 | $121.48 | -69.7% | Nov 3, 2021 |
| Piper Sandler | Erinn Murphy | $102 | $118.24 | -71.9% | May 21, 2021 |
Track every rating change on RL the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationRalph Lauren Corporation is a prominent international entity primarily involved in the creation, marketing, and distribution of premium lifestyle goods across North America, Europe, Asia, and other global regions. The company's diverse product range includes: Apparel: A comprehensive selection of clothing for men, women, and children. Footwear & Accessories: Various shoe styles (casual, dress, boots, sneakers, sandals), eyewear, timepieces, both fashion and fine jewelry, scarves, hats, gloves, umbrellas, and an assortment of leather items like handbags, luggage, small leather goods, and belts. Home Goods: Linens for bed and bath, furniture, fabric and wall coverings, lighting solutions, tabletop items, kitchen textiles, floor coverings, and giftware. Fragrances: A variety of scents developed for both men and women.…
Historical context
All RL earningsConsumer Cyclical peers this season
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Latest beats and misses
Who reports nextBeat on EPS
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- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the RL recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-04T03:50:41.562452+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T03:50:41.559645+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.