1 analysts' median target is $424[FMP target], stock is $358, +18.1% upside potential. After Q2 +7.2% EPS beat[FMP earnings], the stock moved +1.2%.
B+ = MoonshotScore 67[9-pillar formula] + Council 3/6[6-lens rule]. Form 4: 0 transactions[FMP Form 4].
Q4 consensus: revenue $1.8B[FMP est], EPS $2.49[FMP est]. 8 consecutive quarters of beat[FMP earnings].
Q2 EPS +7.2% beat[FMP] but the stock +1.2% D+1[FMP D+1]. Justin Picicci promised $75.6M CapEx + a sequential decline in Q4 during the Q2 earnings call[Justin Picicci capex transcript].
Watchlist
Gross Margin Outlook
gross_margin_outlook
Ralph Lauren expects gross margin to expand approximately 10 to 30 basis points for FY26, with growth in AUR, favorable cotton costs, and geographic mix more than offsetting pressure from tariffs.
"We now anticipate constant currency gross margin to expand about 10 to 30 basis points for the full year, with further growth in AUR, favorable cotton costs and geographic mix more than offsetting pressure from tariffs."
- Justin Picicci, Chief Financial Officer - Q2 FY26 Earnings Call - November 6, 2025
Fy26 Revenue Guidance
fy26_revenue_guidance
Ralph Lauren raised its FY26 revenue growth outlook to approximately 5% to 7% due to strong first-half performance.
"For fiscal '26, we now expect constant currency revenues to increase in a range of approximately 5% to 7%, up from low to mid-single digits previously."
- Justin Picicci, Chief Financial Officer - Q2 FY26 Earnings Call - November 6, 2025
Dtc Growth
dtc_growth
Ralph Lauren delivered another strong quarter of comp growth across regions, with global comps increasing 13%, with double-digit growth in both digital sites and physical stores.
"Within DTC, which comprises the majority of our business, we delivered another strong quarter of comp growth across regions. Global comps increased 13%, above our expectations, with double-digit growth in both our digital sites and physical stores."
- Patrice Louvet, President and Chief Executive Officer - Q2 FY26 Earnings Call - November 6, 2025
China Growth
china_growth
Ralph Lauren's sales in China increased by more than 30% this quarter, driven by a strong consumer response.
"China grew more than 30% in the quarter, ahead of our outlook with a strong consumer response to our brand building activities, including our Summer of Sports campaigns and amplification of our New York Fashion Show."
- Justin Picicci, Chief Financial Officer - Q2 FY26 Earnings Call - November 6, 2025
Marketing Expenses
marketing_expenses
Ralph Lauren now expects marketing as a percentage of sales to be approximately 7.5% in fiscal '26, in line with its long-range plan.
"We now expect marketing as a percentage of sales to be approximately 7.5% in fiscal '26, in line with our long-range plan."
- Justin Picicci, Chief Financial Officer - Q2 FY26 Earnings Call - November 6, 2025
Stock Expert AI - Methodology
9-pillar methodology. Revenue Growth and Gross Margin strong. Operating Leverage weak.
How is it calculated? ->6 investor frameworks. 3 bullish (Ray Dalio, Ken Griffin, Buffett), 0 bearish (none), 3 neutral (Jim Simons, Klarman, Munger).
How is it calculated? ->Quality business, trading at fair value.
How is it calculated? ->Past Performance
Q2 (November 6, 2025): EPS $6.22 vs $5.80 est[FMP], +7.2% beat. D+1 movement: +1.2%[FMP D+1]. Decline despite beat - market reacted to guidance, not numbers.
Q2: EPS $6.22 vs $5.80 beat[FMP], stock +1.2% D+1[FMP].
No RPO/backlog concentration disclosed in Q2 earnings call.
Q2 CapEx $75.6M[FMP cashflow]. Q2 op margin 20.9%[FMP op margin] - this level in Q4 is sensitive to CapEx revision risk.
Not advice - a structural framework for earnings night. Decision discipline is yours.
Market Outlook
You read it in 5 minutes. When the numbers come out on Thursday evening - you know what you're looking at.
Data arrives at night. The framework is ready now.
Data arrives on Thursday evening. The framework is ready on this page: Q4 EPS threshold $2.49[FMP], CapEx threshold "below $75.6M"[Justin Picicci]. Two anchors, three scenarios.
Comparison Stock Expert AI Pro $24/month ($240/year), 77% cheaper than the total of three earnings-tracking tools ($1,059/year -> $240/year).
Seeking Alpha $299/yr - analyst opinions + earnings coverage TipRanks $360/yr - Smart Score (1-10) + analyst consensus + insider trades Trendspider $400/yr - AI pattern detection + automated TA + multi-timeframe alerts
Prices as of April 2026. Sources: seekingalpha.com/subscriptions - tipranks.com/pricing - trendspider.com/pricing
Stock Expert AI Pro: $24/month ($240/year). Council 7-lens analysis + MoonshotScore 9-pillar + Insider tracker + Technical levels - all in one platform, for every stock.
Educational tool, not investment advice. Past performance does not guarantee future results.
Calendar
DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.
This RL (RL) earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.
Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.