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(2) Restructuring plan charges, net related to the Company's restructuring activities associated with severance and benefit costs.
Read in the filing ↗ Also in 8-K of Nov 5, 2026
(2) Restructuring plan charges, net relate to the Company's restructuring activities, primarily associated with severance and benefit costs.
Read in the filing ↗ Also in 8-K of Nov 6, 2025, 8-K of Feb 5, 2026
During the three-month periods ended June 27, 2026 and June 28, 2025, the Company recorded $ 3.0 million and $ 6.4 million, respectively, of restructuring charges associated with severance and benefit costs. A summary of current period activity in the restructuring reserve related to the Company's restructuring activities is as follows:
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(4) Restructuring plan charges, net recorded during the three-month and twelve- month periods ended March 29, 2025 and March 30, 2024 relate to the Company's restructuring activities, primarily associated with severance and benefit costs.
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• our ability to achieve anticipated operating enhancements and cost reductions from our restructuring plans, as well as the impact to our business resulting from restructuring-related charges, which may be dilutive to our earnings in the short term;
Read in the filing ↗ Also in 10-Q of Aug 7, 2025, 10-Q of Nov 6, 2025, 10-Q of Feb 5, 2026
(2) Restructuring plan and other charges, net recorded during the three-month and twelve-month periods ended March 28, 2026 and March 29, 2025 relate to the Company's restructuring activities, primarily associated with severance and benefit costs.
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(b) During Fiscal 2025, $ 20.2 million was included within SG&A expenses and $ 2.9 million was included within restructuring and other charges, net. During Fiscal 2024, $ 20.9 million was included within SG&A expenses and $ 3.1 million was included within restructuring and other charges, net. During Fiscal 2023, $ 22.8 million was included within SG&A expenses and $ 1.7 million was included within restructuring and other charges, net.
Read in the filing ↗ Also in 10-K of May 21, 2026
million was included within restructuring and other charges, net. During Fiscal 2023, $ 3.5 million was included within cost of goods sold, $ 307.8 million was included within SG&A expenses, and $ 7.0 million was included within restructuring and other charges, net.
Read in the filing ↗ Also in 10-K of May 21, 2026
During the three-month and six-month periods ended September 26, 2026, the Company recorded $ 4.0 million and $ 7.0 million, respectively, and during the three-month and six-month periods ended September 27, 2025, the Company recorded $ 9.5 million and $ 15.9 million, respectively, of restructuring charges associated with severance and benefit costs. A summary of current fiscal year activity in the restructuring reserve related to the Company's restructuring activities is as follows:
Read in the filing ↗ Also in 10-Q of Nov 6, 2025
Restructuring and Other Charges, Net. Restructuring and other charges, net during the three-month periods ended June 27, 2026 and June 28, 2025 consisted primarily of net restructuring charges of $3.0 million and $6.4 million, respectively, associated with severance and benefits costs, as well as other charges of $20.8 million and $11.0 million, respectively, incurred in connection with our Next Generation Transformation project (refer to "Recent Developments" for additional discussion). See Note 7 to the accompanying consolidated financial statements.
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During the three months ended June 29, 2024, the Company recorded $ 3.3 million of cash-related restructuring charges, primarily associated with severance and benefit costs. During Fiscal 2025, the Company recorded cumulative restructuring-related charges of $ 20.4 million, comprised of cash-related restructuring charges of $ 15.5 million, primarily associated with severance and benefit costs, and non-cash-related charges of $ 4.9 million, primarily related to stock-based compensation expense recorded in connection with an employment separation agreement. As of June 28, 2025 and March 29, 2025, the
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A description of significant restructuring and other activities and their related costs is provided below.
Read in the filing ↗ Also in 10-Q of Aug 7, 2025, 10-Q of Nov 6, 2025, 10-Q of Feb 5, 2026, 10-K of May 21, 2026, 10-Q of Aug 6, 2026, 10-Q of Nov 5, 2026
We may not fully realize the expected cost savings and/or operating efficiencies from our restructuring plans.
Read in the filing ↗ Also in 10-K of May 21, 2026
(a) During Fiscal 2025, $ 3.4 million was included within cost of goods sold, $ 279.2 million was included within SG&A expenses, and $ 9.9 million was included within restructuring and other charges, net. During Fiscal 2024, $ 3.1 million was included within cost of goods sold, $ 278.1 million was included within SG&A expenses, and $ 13.8 million was included within restructuring and other charges, net. During Fiscal 2023, $ 3.1 million was included within cost of goods sold, $ 269.4 million was included within SG&A expenses, and $ 21.8 million was included within restructuring and other charges, net.
Read in the filing ↗ Also in 10-K of May 21, 2026
(a) See discussion above for additional information related to restructuring and other charges, net recorded during the fiscal periods presented.
Read in the filing ↗ Also in 10-Q of Nov 6, 2025, 10-Q of Nov 6, 2025, 10-Q of Feb 5, 2026, 10-Q of Feb 5, 2026, 10-K of May 21, 2026, 10-Q of Aug 6, 2026, 10-Q of Nov 5, 2026, 10-Q of Nov 5, 2026
We have implemented restructuring plans to support key strategic initiatives. Although designed to deliver long-term sustainable growth, restructuring plans present significant potential risks that may impair our ability to achieve anticipated operating enhancements and/or cost reductions, or otherwise harm our business, including (i) higher than anticipated costs in implementing planned workforce reductions, particularly in highly regulated locations outside the U.S.; (ii) higher than anticipated lease termination and store or facility closure costs; (iii) failure to meet operational targets or customer requirements due to the loss of employees or inadequate transfer of knowledge; (iv) failure to maintain adequate controls and procedures while executing, and subsequent to completing, our restructuring plans; (v) diversion of management attention and resources from ongoing business activities and/or a decrease in employee morale; (vi) attrition beyond any planned reduction in workforce; and (vii) damage to our reputation and brand image due to our restructuring-related activities.
Read in the filing ↗ Also in 10-K of May 21, 2026
• a favorable change in our accounts payable driven by the timing of cash payments, as well as a net favorable change in accrued liabilities largely driven by accrued payroll and benefits resulting from anticipated higher bonus achievement levels, partially offset by our restructuring reserve due to a decrease in restructuring charges recorded during the current fiscal year period as compared to the prior fiscal year period.
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(a) See discussion above for additional information related to impairment of assets and restructuring and other charges, net recorded during the fiscal years presented.
Read in the filing ↗ Also in 10-K of May 22, 2025
• a net favorable change in our accrued liabilities largely driven by the impact of a lower bonus achievement level realized during Fiscal 2023 as compared to the prior fiscal year and a favorable change in our restructuring reserve due to an increase in restructuring charges recorded during Fiscal 2024 as compared to the prior fiscal year, as well as a favorable change in accounts payable driven by the timing of cash payments; and
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A summary of the activity in the restructuring reserve related to the Fiscal 2021 Strategic Realignment Plan during the fiscal years presented is as follows:
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Restructuring and Other Charges, Net. During Fiscal 2026 and Fiscal 2025, we recorded restructuring charges of $25.9 million and $20.4 million, respectively, primarily consisting of severance and benefits costs. We also recognized income of $2.1 million and $2.8 million during Fiscal 2026 and Fiscal 2025, respectively, related to cash consideration received from Regent, L.P. in connection with our former Club Monaco business, which was sold as part of our restructuring activities during our fiscal year ended April 2, 2022. We donated this income both years to The Ralph Lauren Corporate Foundation, a non-profit charitable foundation, which resulted in related offsetting donation expenses of $2.1 million and $2.8 million during Fiscal 2026 and Fiscal 2025, respectively.
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If we are not successful in implementing and managing our restructuring plans, we may not be able to achieve targeted operating enhancements, sales growth, and/or cost reductions, which could adversely impact our business. Our failure to achieve targeted results for any reason, including business disruptions resulting from adverse economic conditions or catastrophic events, could also lead to the implementation of additional restructuring-related activities, which may be dilutive to our earnings in the short term.
Read in the filing ↗ Also in 10-K of May 22, 2025
2023 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── (millions) Cash-related restructuring charges: Severance and benefit costs $ 8.6 $ 147.1 Other cash charges 3.9 26.5 Total cash-related restructuring charges 12.5 173.6 Non-cash charges: Impairment of assets (see Note 8) 0.2 90.9 Inventory-related charges(a) 0.3 8.6 Accelerated stock-based compensation expense(b) — 2.0 Other non-cash charges 6.7 6.7 Total non-cash charges 7.2 108.2 Total charges $ 19.7 $ 281.8
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During Fiscal 2025, the Company recorded restructuring-related charges of $ 20.4 million, comprised of cash-related restructuring charges of $ 15.5 million, primarily associated with severance and benefit costs, and non-cash-related charges of $ 4.9 million, primarily related to stock-based compensation expense recorded in connection with an employment separation agreement. As of March 29, 2025, the remaining liability related to the cash-related charges was $ 10.9 million, reflecting cash payments of $ 4.6 million made during Fiscal 2025.
Read in the filing ↗ Also in 10-K of May 21, 2026
(b) Accelerated stock-based compensation expense, which was recorded within restructuring and other charges, net in the consolidated statements of operations, related to vesting provisions associated with certain separation agreements.
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The Company recorded cash-related restructuring benefits of $ 0.2 million during the three months ended December 28, 2024 and cash-related restructuring charges of $ 10.5 million during the nine months ended December 28, 2024, primarily associated with severance and benefit costs. The Company also recorded non-cash-related charges, net of $ 1.8 million and $ 3.4 million during the three-month and nine-month periods ended December 28, 2024, respectively, primarily related to stock-based compensation expense recorded in connection with an employment separation agreement. During Fiscal 2025, the Company recorded cumulative restructuring-related charges of $ 20.4 million, comprised of cash-related restructuring charges of $ 15.5 million, primarily associated with severance and benefit costs, and non-cash-related charges of $ 4.9 million, primarily related to stock-based compensation expense recorded in connection with an employment separation agreement. As of December 27, 2025 and March 29, 2025, the remaining liability related to these cash-related charges was $ 4.6 million and $ 10.9 million, respectively, reflecting cash payments of $ 6.6 million and non-cash adjustments of $ 0.3 million made during the nine months ended December 27, 2025.
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(b)The fiscal years presented included certain restructuring and other charges, net (see Note 9) that are excluded from the segment profitability measure utilized by the CODM, which are detailed below:
Read in the filing ↗ Also in 10-K of May 21, 2026
2026 2025 (millions) Restructuring and other charges, net (see Note 7) $ (24.8) $ (19.3) Non-routine bad debt expense reversals(a) 1.3 — Total net charges $ (23.5) $ (19.3)
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• pretax charges incurred in connection with our restructuring activities, as well as certain other benefits (charges) as summarized below (references to "Notes" are to the notes to the accompanying consolidated financial statements):
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NEW YORK -- (BUSINESS WIRE) -- May 23, 2024 -- Ralph Lauren Corporation (NYSE:RL), a global leader in the design, marketing, and distribution of luxury lifestyle products, today reported earnings per diluted share of $1.38 on a reported basis and $1.71 on an adjusted basis, excluding restructuring-related and other net charges, for the fourth quarter of Fiscal 2024. This compared to earnings per diluted share of $0.48 on a reported basis and $0.90 on an adjusted basis, excluding restructuring-related and other net charges, for the fourth quarter of Fiscal 2023.
Read in the filing ↗ Also in 8-K of May 22, 2025
• our ability to achieve anticipated operating enhancements and cost reductions from our strategic initiatives and restructuring plans, as well as the resulting impact to our business, which may be dilutive to our earnings in the short term;
Read in the filing ↗ Also in 10-Q of Aug 6, 2026, 10-Q of Nov 5, 2026
NEW YORK -- (BUSINESS WIRE) -- November 8, 2023 -- Ralph Lauren Corporation (NYSE:RL), a global leader in the design, marketing, and distribution of luxury lifestyle products, today reported earnings per diluted share of $2.19 on a reported basis and $2.10 on an adjusted basis, excluding restructuring-related and other net charges and one-time tax events for the second quarter of Fiscal 2024. This compared to earnings per diluted share of $2.18 on a reported basis and $2.23 on an adjusted basis, excluding restructuring-related and other net charges for the second quarter of Fiscal 2023.
Read in the filing ↗ Also in 8-K of Nov 7, 2024, 8-K of Nov 6, 2025, 8-K of Nov 5, 2026
(b) The three-month periods ended June 28, 2025 and June 29, 2024 included certain restructuring and other charges, net (see Note 7) that are excluded from the segment profitability measure utilized by the CODM, which are detailed below:
Read in the filing ↗ Also in 10-Q of Aug 6, 2026
NEW YORK -- (BUSINESS WIRE) -- February 8, 2024 -- Ralph Lauren Corporation (NYSE:RL), a global leader in the design, marketing, and di stribution of luxury lifestyle products, today reported earnings per diluted share of $4.19, up 31% to prior year on a reported basis and $4.17, up 24% on an adjusted basis, excluding restructuring-related and other net charges for the third quarter of Fiscal 2024. This compared to earnings per diluted share of $3.20 on a reported basis and $3.35 on an adjusted basis, excluding restructuring-related and other net charges for the third quarter of Fiscal 2023.
Read in the filing ↗ Also in 8-K of Feb 6, 2025, 8-K of Feb 5, 2026
NEW YORK -- (BUSINESS WIRE) -- August 7, 2024 -- Ralph Lauren Corporation (NYSE:RL), a global leader in the design, marketing, and di stribution of luxury lifestyle products, today reported earnings per diluted share of $2.61, up 33% to prior year on a reported basis and $2.70, up 15% on an adjusted basis, excluding restructuring-related and other net charges, for the first quarter of Fiscal 2025. This compared to earnings per diluted share of $1.96 on a reported basis and $2.34 on an adjusted basis, excluding restructuring-related and other net charges for the first quarter of Fiscal 2024.
Read in the filing ↗ Also in 8-K of Aug 7, 2025, 8-K of Aug 6, 2026
Restructuring and Other Charges, Net. During the nine-month periods ended December 27, 2025 and December 28, 2024, we recorded net restructuring charges of $22.4 million and $13.9 million, respectively, primarily consisting of severance and benefits costs, as well as other charges of $6.1 million and $9.1 million, respectively, related to rent and occupancy costs associated with certain previously exited real estate locations in connection with our restructuring activities for which the related lease agreements have not yet expired. In addition, during the nine-month periods ended December 27, 2025 and December 28, 2024, we recorded other charges of $61.7 million and $17.1 million, respectively, in connection with our Next Generation Transformation project (refer to "Recent Developments" for additional discussion), and recorded other income of $1.8 million and $2.1 million, respectively, related to consideration received from Regent, L.P. in connection with our previously sold Club Monaco business. See Note 7 to the accompanying consolidated financial statements.
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Restructuring and Other Charges, Net. During the three-month periods ended June 28, 2025 and June 29, 2024, we recorded net restructuring charges of $6.4 million and $3.3 million, respectively, primarily consisting of severance and benefits costs, as well as other charges of $2.5 million and $2.8 million, respectively, primarily related to rent and occupancy costs associated with certain previously exited real estate locations in connection with our restructuring activities for which the related lease agreements have not yet expired. In addition, during the three-month periods ended June 28, 2025 and June 29, 2024, we recorded other charges of $11.0 million and $2.3 million, respectively, in connection with our Next Generation Transformation project (refer to "Recent Developments" for additional discussion), and recorded other income of $0.6 million and $1.0 million, respectively, related to consideration received from Regent, L.P. in connection with our previously sold Club Monaco business. See Note 7 to the accompanying consolidated financial statements.
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Restructuring and Other Charges, Net. During the six-month periods ended September 27, 2025 and September 28, 2024, we recorded net restructuring charges of $15.9 million and $12.3 million, respectively, primarily consisting of severance and benefits costs, as well as other charges of $5.3 million and $6.9 million, respectively, primarily related to rent and occupancy costs associated with certain previously exited real estate locations in connection with our restructuring activities for which the related lease agreements have not yet expired. In addition, during the six-month periods ended September 27, 2025 and September 28, 2024, we recorded other charges of $36.7 million and $8.0 million, respectively, in connection with our Next Generation Transformation project (refer to "Recent Developments" for additional discussion), and recorded other income of $1.3 million and $1.4 million, respectively, related to consideration received from Regent, L.P. in connection with our previously sold Club Monaco business. See Note 7 to the accompanying consolidated financial statements.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
(3) Cease-use rent and occupancy expenses relate to rent and occupancy costs associated with certain previously exited real estate locations in connection with the Company's past restructuring activities for which the related lease agreements have not yet expired.
Read in the filing ↗ Also in 8-K of Nov 6, 2025
(3) Cease-use rent and occupancy expenses relate to rent and occupancy costs associated with certain real estate locations previously exited in connection with the Company's past restructuring activities for which the related lease agreements have not yet expired.
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(3) Cease-use rent and occupancy expenses related to rent and occupancy costs associated with certain previously exited real estate locations in connection with the Company's past restructuring activities for which the related lease agreements have not yet expired.
Read in the filing ↗ Also in 8-K of Nov 5, 2026
In connection with the Company's former Club Monaco business, which was sold as part of restructuring activities during the fiscal year ended April 2, 2022, the Company recognized income of $ 2.1 million, $ 2.8 million, and $ 7.0 million during Fiscal 2026, Fiscal 2025, and Fiscal 2024, respectively, within restructuring and other charges, net in the consolidated statements of operations related to cash consideration received from Regent, L.P. The Company donated this income each year to The Ralph Lauren Corporate Foundation, a non-profit charitable foundation, which resulted in related offsetting donation expenses of $ 2.1 million, $ 2.8 million, and $ 7.0 million during Fiscal 2026, Fiscal 2025, and Fiscal 2024, respectively. The income and related offsetting donation expense amounts during Fiscal 2026, Fiscal 2025, and Fiscal 2024 were all recorded within restructuring and other charges, net in the consolidated statements of operations. Refer to Note 9 of the Fiscal 2025 10-K for additional discussion regarding the Company's sale of its former Club Monaco business.
Read in the filing ↗
(b) The three-month and six-month periods ended September 27, 2025 and September 28, 2024 included certain restructuring and other charges, net (see Note 7) that are excluded from the segment profitability measure utilized by the CODM, which are detailed below:
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(b) The three-month and nine-month periods ended December 27, 2025 and December 28, 2024 included certain restructuring and other charges, net (see Note 7) that are excluded from the segment profitability measure utilized by the CODM, which are detailed below:
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(c) The three-month and six-month periods ended September 26, 2026 and September 27, 2025 included certain restructuring and other charges, net (see Note 7) that are excluded from the segment profitability measure utilized by the CODM, which are detailed below:
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In connection with the preliminary phase of the NGT project, we incurred other charges of $25.2 million and $5.1 million during Fiscal 2025 and Fiscal 2024, respectively, which were recorded within restructuring and other charges, net in the consolidated statements of operations.
Read in the filing ↗ Also in 10-K of May 22, 2025
Restructuring and Other Charges, Net. During the three-month periods ended September 26, 2026 and September 27, 2025, we recorded net restructuring charges of $4.0 million and $9.5 million, respectively, associated with severance and benefits costs, as well as other charges of $23.9 million and $25.7 million, respectively, incurred in connection with our Next Generation Transformation project (refer to "Recent Developments" for additional discussion). In addition, during the three months ended September 26, 2026, we recorded other charges of $33.2 million related to charitable donations, funded by a portion of the IEEPA tariff refunds received during the second quarter. See Note 7 to the accompanying consolidated financial statements.
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In connection with the NGT project, we incurred other charges of $83.9 million, $25.2 million, and $5.1 million during Fiscal 2026, Fiscal 2025, and Fiscal 2024, respectively, which were recorded within restructuring and other charges, net in the consolidated statements of operations.
Read in the filing ↗ Also in 10-K of May 21, 2026
The comparability of our operating results for Fiscal 2026 and Fiscal 2025 has been affected by certain transactions, including net restructuring-related charges and certain other charges totaling $118.1 million and $57.8 million, respectively. See Note 8 to the accompanying consolidated financial statements.
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Restructuring and Other Charges, Net. During Fiscal 2024 and Fiscal 2023, we recorded net restructuring charges and benefits of $55.8 million and $19.2 million, respectively, primarily consisting of severance and benefits costs, as well as other charges of $14.0 million and $23.8 million, respectively, primarily related to rent and occupancy costs associated with certain previously exited real estate locations in connection with our restructuring activities for which the related lease agreements had not yet expired. In addition, during Fiscal 2024 we recorded other charges of $5.1 million in connection with our Next Generation Transformation project (refer to "Recent Developments" for additional discussion). Additionally, during Fiscal 2024 and Fiscal 2023, we recognized income of $7.0 million and $3.5 million, respectively, related to consideration received from Regent, L.P. in connection with our previously sold Club Monaco business. We donated this income to The Ralph Lauren Corporate Foundation, which resulted in related offsetting donation expenses of $7.0 million and $3.5 million during Fiscal 2024 and Fiscal 2023, respectively. See Note 9 to the accompanying consolidated financial statements.
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A substantial portion of our revenue is derived from a limited number of large wholesale customers. Our business could be adversely affected as a result of consolidations, liquidations, restructurings, other ownership changes in the retail industry, and/or any financial instability of our large wholesale customers.
Read in the filing ↗ Also in 10-K of May 21, 2026
(a) Fiscal 2025 includes $ 5.3 million of stock-based compensation expense related to an employment separation agreement recorded within restructuring and other charges, net in the consolidated statements of operations (see Note 9). All other stock-based compensation expense was recorded within SG&A expenses.
Read in the filing ↗ Also in 10-K of May 21, 2026