Ralph Lauren says ‘on track’ with new store openings

Expects Q4 to be negatively impacted by a late Easter. Expects FY marketing as a percentage of sales roughly in-line with last year, lower in Q4. Says “pullback on promotion is the game plan.” Feels “very good” about momentum in China. “Energized” about near and long-term growth prospects in China. Expects to open ~70 stores in Asia this year.