Ralph Lauren (RL) Earnings: Q2 Fiscal 2027 Results and Next Report Date

The quarter ended September 26, 2026 and Ralph Lauren published the results on November 5, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Ralph Lauren reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Reported Q2 fiscal 2027 results include an $82.3 million gross profit benefit from refunds of tariffs Ralph Lauren previously paid under IEEPA, and a $33.2 million expense for charitable donations made from those refunds. Ralph Lauren's adjusted figures exclude both.
• Ralph Lauren's fiscal 2027 is a 53-week year ending April 3, 2027. The second quarter was 13 weeks, the same length as a year earlier.

Source: Ralph Lauren Q2 fiscal 2027 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 26, 2026. Figures as reported; checked against the release on November 10, 2026.

How Ralph Lauren splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• Ralph Lauren's North America revenue was $886 million in Q2 fiscal 2027, up 6% from $832 million in Q2 fiscal 2026, 40% of total revenue.
• Ralph Lauren's Europe revenue was $696 million in Q2 fiscal 2027, up 1% from $688 million in Q2 fiscal 2026, 32% of total revenue.
• Ralph Lauren's Asia revenue was $571 million in Q2 fiscal 2027, up 28% from $446 million in Q2 fiscal 2026, 26% of total revenue.
• Ralph Lauren's Other non-reportable segments revenue was $40.4 million in Q2 fiscal 2027, down 9% from $44.4 million in Q2 fiscal 2026, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q2 fiscal 2027 release, Ralph Lauren said:

“For Fiscal 2027, the Company expects constant currency revenues to increase mid- to high-single digits to last year on a 52-week comparable basis, now centered around 6% to 7%, up from a range of 5% to 6% previously, reflecting better-than-expected second quarter results.”

“The Company now expects operating margin for Fiscal 2027 to expand approximately 80 to 100 basis points in constant currency, up from its prior outlook, driven primarily by gross margin expansion.”

“For the third quarter, the Company expects revenues to grow approximately low- to mid-single digits on a constant currency basis, centered around 3% to 4%.”

“Operating margin for the third quarter is expected to expand approximately 50 to 70 basis points in constant currency, with gross margin expansion more than offsetting higher marketing investments in the holiday period.”

Source: Ralph Lauren Q2 FY27 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the RL forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net revenues and diluted EPS, each as first reported in that quarter's release.

Ralph Lauren's next report is expected around February 4, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q2 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Nov 5, 2026

Ralph Lauren's net revenues were $2,193.3 million in Q2 fiscal 2027, up 9% on a reported basis and 10% in constant currency. North America brought in $885.6 million, Europe $696.0 million, Asia $571.3 million and other non-reportable segments, which are mostly licensing, $40.4 million. By channel, retail was $1,413.5 million, wholesale $739.4 million and licensing $40.4 million. (Ralph Lauren Q2 FY27 release, Nov 5, 2026)

Asia led the growth. Ralph Lauren's Asia revenue rose 28% to $571 million with comparable store sales up 24%, and China revenue increased more than 35% on both a reported and constant currency basis. North America rose 6% to $885 million, and its wholesale revenue increased 8%, including approximately 4 points of benefit from earlier timing of shipments from the second half of Fiscal 2027. Europe rose 1% reported and 3% in constant currency, while its comparable store sales decreased 1%. (Ralph Lauren Q2 FY27 release, Nov 5, 2026)

Ralph Lauren's global direct-to-consumer comparable store sales rose 10%, and average unit retail (AUR) across its direct-to-consumer network increased 9%. Ralph Lauren attributed the AUR gain to strong full-price selling and favorable geographic and channel mix. It opened 22 new owned and partnered stores in the quarter and ended it with 606 directly operated stores and 620 concessions. (Ralph Lauren Q2 FY27 release, Nov 5, 2026)

In Ralph Lauren's fiscal 2026, North America was approximately 41% of net revenues, Europe 31%, Asia 26% and other non-reportable segments 2%. Sales to its three largest wholesale customers accounted for approximately 11% of total net revenues that year, about 70% of it in North America and 30% in Europe. (Ralph Lauren Form 10-K, fiscal 2026, May 21, 2026)

Ralph Lauren's reported diluted EPS of $4.87 was above its adjusted EPS of $4.64 in Q2 fiscal 2027, the reverse of a year earlier, when reported EPS was $3.32 and adjusted EPS $3.79. Reported results included an $82.3 million benefit in cost of goods sold from refunds of tariffs previously paid under IEEPA, which the U.S. Supreme Court invalidated in February 2026. Ralph Lauren gave part of the refunds to charity, a $33.2 million expense. Adjusted results exclude both, along with $23.9 million of Next Generation Transformation project charges and other restructuring items. (Ralph Lauren Q2 FY27 release, Nov 5, 2026; Ralph Lauren Form 10-Q, Q2 FY27, Nov 5, 2026)

The refunds lifted Ralph Lauren's reported gross margin to 74.2%, 620 basis points above the prior year. Adjusted gross margin was 70.5%, up 250 basis points, which Ralph Lauren put down to AUR growth, favorable geographic mix and lower product costs. Adjusted operating margin was 15.7%, 160 basis points higher than a year earlier. (Ralph Lauren Q2 FY27 release, Nov 5, 2026)

Ralph Lauren's weighted-average diluted shares fell to 60.9 million from 62.4 million. It repurchased approximately $250 million of Class A common stock in the quarter and $500 million in the fiscal year to date, completing its repurchase plans for Fiscal 2027, with about $852 million left under the program. The effective tax rate rose to 19.7% from 14.6% because the prior year period had favorable discrete tax benefits. (Ralph Lauren Q2 FY27 release, Nov 5, 2026; Ralph Lauren Form 10-Q, Q2 FY27, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Ralph Lauren gives a full-year and next-quarter outlook in its release, in constant currency and excluding restructuring-related and other charges. It raised its fiscal 2027 revenue outlook to growth centered around 6% to 7% on a 52-week comparable basis, from 5% to 6%, and now expects operating margin to expand approximately 80 to 100 basis points in constant currency. Fiscal 2027 has 53 weeks, and the extra week is expected to add 1 point to revenue growth. (Ralph Lauren Q2 FY27 release, Nov 5, 2026)

For Q3 fiscal 2027, Ralph Lauren expects constant currency revenue growth centered around 3% to 4%, including approximately 1 point of negative impact from wholesale timing shifts and strategic off-price reductions, and operating margin expansion of approximately 50 to 70 basis points. It expects a full-year tax rate of approximately 21% to 22% and a third-quarter rate of approximately 23% to 24%. (Ralph Lauren Q2 FY27 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Ralph Lauren, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Ralph Lauren's own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning RL is on is RL a buy or a sell?, what analysts expect next is on the RL forecast, and what the company does is on the Ralph Lauren (RL) stock page.

Every number on this page can be traced to a document Ralph Lauren published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.