Investment Rating - The report does not provide a specific investment rating for Ralph Lauren (RL) [2] Core Insights - The company's international expansion strategy is progressing steadily, with increasing brand recognition in overseas markets. The growth rate in the Chinese market exceeds 30% [2] - The company hosted its first fashion show in China and utilized Douyin for live streaming sales, significantly boosting brand awareness and sales [2] - Revenue for the quarter reached a record high, with a year-on-year increase of 14%, driven by strong demand for core products and high-potential categories [2][3] - The gross margin improved to 72.3%, up 180 basis points year-on-year, benefiting from price increases and lower cotton prices [3] - The management has raised the fiscal year 2026 guidance, expecting revenue growth in the low to mid-single digits, with operating margin improvements [3] Revenue and Profitability - Total revenue for the fiscal year ending March 28 is projected to grow from $6,631 million in FY24 to $8,367 million in FY28, reflecting a compound annual growth rate of approximately 5% [4] - Net profit is expected to increase from $646 million in FY24 to $1,041 million in FY28, with earnings per share rising from $9.71 to $17.70 over the same period [4] - The diluted earnings per share for the latest quarter increased by 35% year-on-year to $3.52, with an adjusted growth of 40% to $3.77 [3] Regional Performance - North America revenue grew by 8% to $656 million, with direct same-store sales increasing by 12% [3] - European revenue rose by 16% to $555 million, with direct same-store sales up by 10% [3] - Asian revenue increased by 21% to $474 million, with China showing over 30% growth and direct same-store sales up by 18% [3] Market Position - The company maintains a competitive edge through brand differentiation and the strength of its core product categories, which are expected to continue driving high-quality growth [2][3]