1037038--6/2/2010--POLO_RALPH_LAUREN

related topics

{customer, product, revenue}

{competitive, industry, competition}

{operation, international, foreign}

{system, service, information}

{property, intellectual, protect}

{condition, economic, financial}

{financial, litigation, operation}

{product, market, service}

{acquisition, growth, future}

{stock, price, operating}

The economic recession could have a negative impact on our major customers and suppliers which in turn could materially adversely affect our results of operations and liquidity. The Company has an exclusive relationship with certain customers for some of its products. The loss or significant decline in business of any of these customers could negatively impact our business. We cannot assure the successful implementation of our growth strategy. Our business could suffer as a result of consolidations, liquidations, restructurings and other ownership changes in the retail industry. Our profitability may decline as a result of increasing pressure on margins. Certain legal proceedings and regulatory matters could adversely impact our results of operations. Our business could suffer if our computer systems and websites are disrupted or cease to operate effectively. A privacy breach could damage the Company s reputation and its relationships with its customers, expose the Company to litigation risk and adversely affect the Company s business. Our business is subject to risks associated with importing products. Our ability to conduct business in international markets may be affected by legal, regulatory, political and economic risks. Our trademarks and other intellectual property rights may not be adequately protected outside the U.S. Our business could suffer as a result of increases in the price of raw materials or a manufacturer s inability to produce our goods on time and to our specifications. Our business could suffer if one of our manufacturers fails to use acceptable labor practices. Our business could suffer if we need to replace manufacturers. Our business is exposed to domestic and foreign currency fluctuations. We rely on our licensing partners to preserve the value of our licenses. Failure to maintain licensing partners could harm our business. The voting shares of the Company s stock are concentrated in one majority stockholder. The trading prices of our securities periodically may rise or fall based on the accuracy of predictions of our earnings or other financial performance. Risks Relating to the Industry in Which We Compete The downturn in the global economy may continue to affect consumer purchases of discretionary items and luxury retail products, which could adversely affect our sales. We face intense competition in the worldwide apparel industry. The success of our business depends on our ability to respond to constantly changing fashion trends and consumer demands.

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1037038--6/2/2010--POLO_RALPH_LAUREN_CORP