RALPH LAUREN CORPRL
RALPH LAUREN CORP Segments Disclosure
Segment Information
The Company has three reportable segments based on its business activities and organization:
•North America — The North America segment primarily consists of sales of Ralph Lauren branded apparel, handbags, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses primarily in the U.S. and Canada. In North America, the Company's retail business is primarily comprised of its Ralph Lauren stores, its outlet stores, and its digital commerce sites, www.RalphLauren.com and www.RalphLauren.ca. The Company's wholesale business in North America is comprised primarily of sales to department stores and, to a lesser extent, specialty stores.
•Europe — The Europe segment primarily consists of sales of Ralph Lauren branded apparel, handbags, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in Europe and emerging markets. In Europe, the Company's retail business is primarily comprised of its Ralph Lauren stores, its outlet stores, its concession-based shop-within-shops, and its various digital commerce sites. The Company's wholesale business in Europe is comprised primarily of a varying mix of sales to both department stores and specialty stores, depending on the country, as well as to various third-party digital and licensee partners.
•Asia — The Asia segment primarily consists of sales of Ralph Lauren branded apparel, handbags, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in Asia, Australia, and New Zealand. The Company's retail business in Asia is primarily comprised of its Ralph Lauren stores, its outlet stores, its concession-based shop-within-shops, and its various digital commerce sites. In addition, the Company sells its products online through various third-party digital partner commerce sites. The Company's wholesale business in Asia is comprised primarily of sales to department stores and various third-party digital and licensee partners.
No operating segments were aggregated to form the Company's reportable segments. In addition to these reportable segments, the Company also has other non-reportable segments, which primarily consist of Ralph Lauren and Chaps branded royalty revenues earned through its global licensing alliances.
The Company's segment reporting structure is consistent with how it establishes its overall business strategy, allocates resources, and assesses performance of its business. The accounting policies of the Company's segments are consistent with those described in Notes 2 and 3. Sales and transfers between segments are generally recorded at cost and treated as transfers of inventory. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. The Company's CODM, who is its President and Chief Executive Officer, assesses segment performance and allocates resources based upon net revenues and operating income before restructuring-related charges, impairment of assets, and certain other non-routine items, if any. In addition, the Company's CODM is regularly provided each segment's gross profit and total SG&A expenses, as well as SG&A expense by category at the consolidated level. Certain corporate overhead expenses related to global functions, most notably the Company's executive office, information technology, finance and accounting, human resources, and legal departments, largely remain at corporate. Additionally, other costs that cannot be allocated to the segments based on specific usage are also maintained at corporate, including corporate marketing and advertising expenses, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects. Asset information by segment is not utilized by the CODM for purposes of assessing performance or allocating resources, and therefore such information has not been presented.
Net revenues, significant expenses, and segment operating income for each of the Company's segments are as follows:
Fiscal Year Ended March 28, 2026 | ||||||||||||||||||||||||||||||||
| North America | Europe | Asia | Other non-reportable segments | Total | ||||||||||||||||||||||||||||
| (millions) | ||||||||||||||||||||||||||||||||
| Net revenues, significant expenses, and segment operating income: | ||||||||||||||||||||||||||||||||
| Net revenues | $ | 3,329.6 | $ | 2,538.9 | $ | 2,103.5 | $ | 142.5 | $ | 8,114.5 | ||||||||||||||||||||||
| Cost of goods sold | (1,310.0) | (801.5) | (393.9) | — | (2,505.4) | |||||||||||||||||||||||||||
Selling, general, and administrative expenses(a) | (1,295.4) | (1,032.8) | (1,132.4) | (18.7) | (3,479.3) | |||||||||||||||||||||||||||
| Total segment operating income | $ | 724.2 | $ | 704.6 | $ | 577.2 | $ | 123.8 | $ | 2,129.8 | ||||||||||||||||||||||
| Reconciliation of segment operating income to consolidated operating income and income before income taxes: | ||||||||||||||||||||||||||||||||
Corporate expenses, net | $ | (832.5) | ||||||||||||||||||||||||||||||
Restructuring and other charges, net(b) | (118.1) | |||||||||||||||||||||||||||||||
| Operating income | 1,179.2 | |||||||||||||||||||||||||||||||
| Non-operating income (expense), net | (1.5) | |||||||||||||||||||||||||||||||
| Income before income taxes | $ | 1,177.7 | ||||||||||||||||||||||||||||||
Fiscal Year Ended March 29, 2025 | ||||||||||||||||||||||||||||||||
| North America | Europe | Asia | Other non-reportable segments | Total | ||||||||||||||||||||||||||||
| (millions) | ||||||||||||||||||||||||||||||||
| Net revenues, significant expenses, and segment operating income: | ||||||||||||||||||||||||||||||||
| Net revenues | $ | 3,050.1 | $ | 2,174.9 | $ | 1,709.4 | $ | 144.6 | $ | 7,079.0 | ||||||||||||||||||||||
| Cost of goods sold | (1,184.8) | (733.1) | (355.7) | — | (2,273.6) | |||||||||||||||||||||||||||
Selling, general, and administrative expenses(a) | (1,225.2) | (875.6) | (940.5) | (18.8) | (3,060.1) | |||||||||||||||||||||||||||
| Total segment operating income | $ | 640.1 | $ | 566.2 | $ | 413.2 | $ | 125.8 | $ | 1,745.3 | ||||||||||||||||||||||
| Reconciliation of segment operating income to consolidated operating income and income before income taxes: | ||||||||||||||||||||||||||||||||
Corporate expenses, net | $ | (755.4) | ||||||||||||||||||||||||||||||
Restructuring and other charges, net(b) | (57.8) | |||||||||||||||||||||||||||||||
| Operating income | 932.1 | |||||||||||||||||||||||||||||||
| Non-operating income (expense), net | 18.6 | |||||||||||||||||||||||||||||||
| Income before income taxes | $ | 950.7 | ||||||||||||||||||||||||||||||
Fiscal Year Ended March 30, 2024 | ||||||||||||||||||||||||||||||||
| North America | Europe | Asia | Other non-reportable segments | Total | ||||||||||||||||||||||||||||
| (millions) | ||||||||||||||||||||||||||||||||
| Net revenues, significant expenses, and segment operating income: | ||||||||||||||||||||||||||||||||
| Net revenues | $ | 2,950.5 | $ | 1,968.0 | $ | 1,566.6 | $ | 146.3 | $ | 6,631.4 | ||||||||||||||||||||||
| Cost of goods sold | (1,211.8) | (710.5) | (338.6) | — | (2,260.9) | |||||||||||||||||||||||||||
Selling, general, and administrative expenses(a) | (1,189.8) | (792.9) | (892.1) | (17.4) | (2,892.2) | |||||||||||||||||||||||||||
| Total segment operating income | $ | 548.9 | $ | 464.6 | $ | 335.9 | $ | 128.9 | $ | 1,478.3 | ||||||||||||||||||||||
| Reconciliation of segment operating income to consolidated operating income and income before income taxes: | ||||||||||||||||||||||||||||||||
Corporate expenses, net | $ | (647.0) | ||||||||||||||||||||||||||||||
Restructuring and other charges, net(b) | (74.9) | |||||||||||||||||||||||||||||||
| Operating income | 756.4 | |||||||||||||||||||||||||||||||
| Non-operating income (expense), net | 21.0 | |||||||||||||||||||||||||||||||
| Income before income taxes | $ | 777.4 | ||||||||||||||||||||||||||||||
(a)SG&A expenses include costs relating to compensation and benefits, marketing and advertising, rent and occupancy, distribution, depreciation and amortization, bad debt, and other selling and administrative costs.
(b)The fiscal years presented included certain restructuring and other charges, net (see Note 8) that are excluded from the segment profitability measure utilized by the CODM, which are detailed below:
| Fiscal Years Ended | ||||||||||||||||||||
| March 28, 2026 | March 29, 2025 | March 30, 2024 | ||||||||||||||||||
| (millions) | ||||||||||||||||||||
| Restructuring and other charges, net: | ||||||||||||||||||||
| North America-related | $ | (7.6) | $ | (0.6) | $ | (6.6) | ||||||||||||||
| Europe-related | (1.2) | (3.4) | (3.9) | |||||||||||||||||
| Asia-related | (3.5) | (2.6) | (7.6) | |||||||||||||||||
| Other non-reportable segment-related | — | (0.1) | (0.6) | |||||||||||||||||
| Corporate operations-related | (13.6) | (13.7) | (37.1) | |||||||||||||||||
| Restructuring charges, net | (25.9) | (20.4) | (55.8) | |||||||||||||||||
Other charges (see Note 8) | (92.2) | (37.4) | (19.1) | |||||||||||||||||
| Total restructuring and other charges, net | $ | (118.1) | $ | (57.8) | $ | (74.9) | ||||||||||||||
The following tables summarize depreciation and amortization expense and capital expenditures for each of the Company's segments:
| Fiscal Years Ended | ||||||||||||||||||||
| March 28, 2026 | March 29, 2025 | March 30, 2024 | ||||||||||||||||||
| (millions) | ||||||||||||||||||||
| Depreciation and amortization expense: | ||||||||||||||||||||
| North America | $ | 81.0 | $ | 81.5 | $ | 81.1 | ||||||||||||||
| Europe | 38.9 | 35.7 | 36.9 | |||||||||||||||||
| Asia | 57.7 | 52.6 | 52.4 | |||||||||||||||||
| Corporate | 55.4 | 49.8 | 58.6 | |||||||||||||||||
Total depreciation and amortization expense | $ | 233.0 | $ | 219.6 | $ | 229.0 | ||||||||||||||
| Fiscal Years Ended | ||||||||||||||||||||
| March 28, 2026 | March 29, 2025 | March 30, 2024 | ||||||||||||||||||
| (millions) | ||||||||||||||||||||
| Capital expenditures: | ||||||||||||||||||||
| North America | $ | 209.2 | $ | 58.5 | $ | 55.5 | ||||||||||||||
| Europe | 38.3 | 28.6 | 25.2 | |||||||||||||||||
| Asia | 61.1 | 59.0 | 49.0 | |||||||||||||||||
| Corporate | 99.5 | 70.1 | 35.1 | |||||||||||||||||
| Total capital expenditures | $ | 408.1 | $ | 216.2 | $ | 164.8 | ||||||||||||||
Net revenues and long-lived assets by geographic location of the reporting subsidiary are as follows:
| Fiscal Years Ended | ||||||||||||||||||||
| March 28, 2026 | March 29, 2025 | March 30, 2024 | ||||||||||||||||||
| (millions) | ||||||||||||||||||||
Net revenues(a): | ||||||||||||||||||||
The Americas(b) | $ | 3,495.1 | $ | 3,215.1 | $ | 3,122.2 | ||||||||||||||
Europe(c) | 2,515.8 | 2,154.5 | 1,942.6 | |||||||||||||||||
Asia(d) | 2,103.6 | 1,709.4 | 1,566.6 | |||||||||||||||||
| Total net revenues | $ | 8,114.5 | $ | 7,079.0 | $ | 6,631.4 | ||||||||||||||
| March 28, 2026 | March 29, 2025 | |||||||||||||
| (millions) | ||||||||||||||
Long-lived assets(a): | ||||||||||||||
The Americas(b) | $ | 1,335.7 | $ | 1,079.2 | ||||||||||
Europe(c) | 662.2 | 493.4 | ||||||||||||
Asia(d) | 372.3 | 286.9 | ||||||||||||
| Total long-lived assets | $ | 2,370.2 | $ | 1,859.5 | ||||||||||
(a)For certain of the Company's licensed operations, net revenues and long-lived assets, which is comprised of property and equipment and lease ROU assets, are included within the geographic location of the reporting subsidiary which holds the respective license.
(b)Includes the U.S., Canada, and Latin America. Net revenues earned in the U.S. were $3.304 billion, $3.047 billion, and $2.971 billion in Fiscal 2026, Fiscal 2025, and Fiscal 2024, respectively. Long-lived assets located in the U.S. were $1.314 billion and $1.056 billion as of March 28, 2026 and March 29, 2025, respectively.
(c)Includes the Middle East.
(d)Includes Australia and New Zealand.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | May 21, 2026 | Showing above |
| 2025 | May 22, 2025 | |
| 2024 | May 23, 2024 | |
| 2023 | May 25, 2023 | |
| 2022 | May 24, 2022 | |
| 2021 | May 20, 2021 | |
| 2020 | May 27, 2020 | |
| 2019 | May 16, 2019 | |
| 2018 | May 23, 2018 | |
| 2017 | May 18, 2017 | |
| 2016 | May 19, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.