Ralph Lauren (RL) shares were down over 3% in recent premarket activity Tuesday after the company unveiled a three-year financial outlook.

The company said it expects revenue to increase at a compound annual growth rate of mid-single digits in constant currency from a base of fiscal 2025 through fiscal 2028.

Ralph Lauren said it forecasts operating margin to increase about 100 to 150 basis points by fiscal 2028 in constant currency terms and capital expenditures to represent about 4% to 5% of revenue annually.

The company said it plans to return at least $2 billion through quarterly cash dividends and stock buybacks, subject to the board's authorization and the business and market landscape.

The company also maintained its fiscal 2026 guidance given on its Aug. 7 earnings call. The company said in August it expected fiscal 2026 revenue to rise low- to mid-single digits and operating margin to expand about 40 to 60 basis points in constant currency terms.