RL · 10-Q · 2026Q3 · Full report

Liquidity and Cash Position

RALPH LAUREN CORP · 2026-11-05 · Importance 52 · Surprise 56 · From source text

As of September 26, 2026, net cash and short-term investments were $581.8 million, down from $826.1 million at the end of Fiscal 2026. The decline primarily reflected $626.6 million of Class A share repurchases and withholding-related share activity, $114.4 million of dividends, and $114.2 million of capital expenditures, partly offset by $618.2 million of operating cash flow. Operating cash flow increased from $229.3 million in the six months ended September 27, 2025, mainly because of favorable changes in inventory and income tax receivables and payables and higher net income before non-cash charges. Equity decreased to $2.730 billion from $2.841 billion as of March 28, 2026, reflecting repurchases and dividends partly offset by comprehensive income and stock-based compensation arrangements.

Key facts

• Net investment purchases were $314.8 million in the six months ended September 26, 2026, compared with $34.7 million in the prior-year period. source
• Six-month net cash used in financing activities was $753.1 million, compared with $459.2 million in the prior-year period. source
• Six-month net cash used in investing activities was $432.2 million, compared with $309.8 million in the prior-year period. source
• Combined borrowings under the Commercial Paper Program and Global Credit Facility are limited to $750 million. source
• The Global Credit Facility provides a $750 million senior unsecured revolving line of credit through June 30, 2028, for working capital, capital expenditures, certain investments, general corporate purposes, acquisitions, letters of credit, and commercial-paper support. source
• The Global Credit Facility can be expanded to $1.500 billion with agreement from one or more lenders; it has no mandatory reductions in borrowing ability during its term. source
• Net cash and short-term investments were $581.8 million at September 26, 2026, down from $826.1 million at Fiscal 2026 year-end. source
• Ralph Lauren may expand Global Credit Facility borrowing availability to $1.500 billion, subject to lender agreement. source

Impact estimates