RALPH LAUREN CORPORATION (NYSE:RL) Files An 8-K Costs Associated with Exit or Disposal Activities

On March 30, 2017, the Board of Directors of Ralph Lauren
Corporation (the Company) approved the following additional
restructuring-related activities associated with its previously
announced Way Forward Plan: (i) the restructuring of its current
digital operations and the shift to a more cost-effective,
flexible e-commerce platform through a new agreement with
Salesforces Commerce Cloud, formerly known as Demandware; (ii)
the closure of its Polo store at 711 Fifth Avenue in New York
City; and (iii) the streamlining of the organization and the
execution of other key corporate actions in line with the
Companys Way Forward Plan. Together, these actions are an
important part of the Companys efforts to achieve its stated
objective to return to sustainable, profitable growth and invest
in the future.

These additional restructuring-related activities will result in
a reduction in workforce and the closure of certain corporate
office and store locations. These actions, which will result in
approximately $140 million in annualized expense savings, are
expected to be substantially completed by the end of the Companys
fiscal year ending on March 31, 2018, and are consistent with the
Companys initiatives to right size the organization and to move
to a more cost effective model. These estimated savings are
incremental to the estimated range previously announced in
connection with the Way Forward Plan at the Companys June 7, 2016
Investor Day, and are a part of achieving the Companys financial
objectives.

In connection with these additional restructuring-related
activities, the Company expects to incur total estimated charges
of approximately $370 million, comprised of cash-related charges
of approximately $185 million and non-cash charges of
approximately $185 million. Cash-related charges will consist
primarily of severance and benefit charges, lease termination and
closure costs, and contract termination costs, and non-cash
charges will consist primarily of asset impairment and
inventory-related charges. These estimated charges are
incremental to the estimated range previously announced related
to the Companys Way Forward Plan.

On April 4, 2017, the Company posted a press statement concerning
the foregoing matters. A copy of such press statement is attached
as Exhibit 99.1 to this Form 8-K and is incorporated herein by
reference.

The information in this Item 7.01, including the accompanying
exhibit, is being furnished and shall not be deemed to be filed
for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the Exchange Act), or otherwise subject to the
liability of such section, nor shall such information be deemed
incorporated by reference in any filing under the Securities Act
of 1933, as amended, or the Exchange Act, regardless of the
general incorporation language of such filing, except as shall be
expressly set forth by specific reference in such filing.

Certain of the statements made in this report contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements involve known and unknown risks, uncertainties and
other factors which may cause the Company’s actual future
results and financial condition, employee reductions, corporate
office and store closures, restructuring expenses, the timing of
those actions and savings to be materially different from the
estimated and anticipated future results and financial condition,
employee reductions, corporate office and store closures,
restructuring expenses, the timing of those actions and savings
expressed in or implied by such forward-looking statements.
Forward-looking statements are based largely on the Company’s
expectations and judgments and are subject to a number of risks
and uncertainties, many of which are unforeseeable and beyond the
Companys control. The following important factors could cause the
estimated future results and financial condition, employee
reductions, corporate office and store closures, anticipated
restructuring expenses, the timing of those actions and
anticipated savings to differ: the Companys ability to implement
and achieve operating enhancements and/or cost reductions of its
restructuring activities, changes in economic or industry
conditions, changes to the expected costs and charges associated
with the Companys restructuring activities and other risks
identified in the Company’s Annual Report on Form 10-K, Form
10-Q and Form 8-K reports filed with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. These
forward-looking statements should not be relied upon as
representing the Companys views as of any date subsequent to the
date of this report.