Ralph Lauren revenue up 15% to $8.1B; net income rises 27% despite $84M surge in NGT costs

Filed May 21, 2026 · Period ending March 28, 2026 · Compared to 10-K May 22, 2025 · ~2 min read

Key Changes

• high

  Net revenues grew 14.6% to $8.1B in FY2026; net income rose 26.7% to $941M ($15.11/share). Gross margin expanded 130 bps to 69.9% despite tariff pressure, driven by pricing power and product elevation.

  MD&A: Financial Results verify on EDGAR →
• high

  Next Generation Transformation project charges jumped from $25M to $84M as implementation accelerated. Company completed global ERP design templates, automated distribution centers, and rolled out demand planning tools.

  MD&A: NGT Project verify on EDGAR →
• high

  Supreme Court invalidated April 2025 IEEPA tariffs in February 2026; new tariffs announced under alternative authority. Refund process began April 2026, but company cannot assure recovery of prior payments.

  Risk Factors: Tariffs verify on EDGAR →