However, soaring inflation and increasing manufacturing and transport costs, which have been compounded by the geopolitical situation in Ukraine, could continue to negatively impact the company’s bottom line in Q2. But still, Ralph Lauren backed guidance for high single-digit growth in FY’23 and expects an adjusted operating margin of 14.0% to 14.5% in constant currency. The company’s adjusted gross margin was down 180 basis points to 68.0% of sales in Q1, with better pricing and promotions more than offset by increased freight headwinds to mitigate global supply chain delays.