Ralph Lauren Corporation provided earnings guidance for the second quarter and full year of fiscal 2023. For the second quarter, the Company expects revenue growth to be in a range centered around 11% in constant currency
to last year. Foreign currency is expected to negatively impact revenue growth by approximately 750 basis points. The second quarter outlook reflects continued caution around consumer sentiment.

For Fiscal 2023, the Company continues to expect constant currency revenues to increase approximately high single digits to last year on a 52-week comparable basis, with their outlook centered around 8%. Based on current exchange rates, foreign currency is now expected to negatively impact revenue growth by approximately 600 basis points in Fiscal 2023. On a 53-week comparable basis, Fiscal 2023 revenue growth is still expected to be negatively impacted by approximately 100 basis points due to the absence of the 53rd week compared to the prior year.