Ralph Lauren Corporation provided earnings guidance for the first quarter and full year of 2023. For Fiscal 2023, the Company expects constant currency revenues to increase approximately high single digits to last year on a 52-week comparable basis, with current outlook at around 8%. Based on current exchange rates, foreign currency is expected to negatively impact revenue growth by approximately 400 basis points in Fiscal 2023. On a 53-week comparable basis, Fiscal 2023 revenue growth is also expected to be negatively impacted by approximately 100 basis points due to the absence of the 53rd week compared to the prior year.

For the first quarter, the Company expects revenue growth will be in a range centered around 8% in constant currency to last year. Foreign currency is expected to negatively impact revenue growth by approximately 480 to 500 basis points. The first quarter outlook reflects confirmed government-mandated lockdowns and other COVID-related restrictions, notably in China.