Key Takeaways Ralph Lauren's Q3 adjusted gross margin rose 140 bps to 69.8% and operating margin rose 200 bps to 20.7%.Full-price sales, higher AUR and reduced discounting drove the margin expansion.Strong demand in Asia, and selective discounting in the U.S. and Europe boosted overall sales quality.Ralph Lauren Corporation’s (RL) recent margin expansion underscores how brand elevation and disciplined execution are translating into tangible financial gains. In the third quarter of fiscal 2026, the company d ...