By Paulo Trevisani

Ralph Lauren Corp. said Tuesday it expects foreign currency exchange to negatively impact revenue growth by around 400 basis points in fiscal 2023.

The New York-based fashion group said it expects first quarter operating margin to be around 13.5%, including a negative impact of 130 basis points from foreign currency.

The company said currency translations also hurt fourth quarter results, decreasing adjusted operating margin rate by 80 basis points.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

May 24, 2022 10:41 ET (14:41 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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