Ralph Lauren Posts $204 Million USD Loss in Fourth Quarter
Bad turns into worse for the fashion retailer.
American clothing giant
“Ralph Lauren has been turning itself around for a very long time. It goes back to over two years now,” said Neil Saunders, managing director of GlobalData Retail. “There is a lack of confidence among investors that the company would be able to pull through all the initiatives it is now talking about.”
This is one of the many things to happen at Ralph Lauren over the past month. Early in April, the store decided it was best to shut down their Fifth Avenue Flagship store in New York, saying it was time for the company to shift focus to the digital market. Ralph Lauren also announced the hiring of new CEO Patrice Louvet, who has been brought in to replace former CEO Stefan Larsson after Larsson left stepped down due disagreements with the brand regarding the company’s turnaround.
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