Ralph Lauren Shares Fall After Annual Forecast is Cut

Posted on

Ralph Lauren Shares Fall After Annual Forecast is Cut

On Thursday, the American company known for its signature preppy ‘look’, Ralph Lauren Corp. announced a 13% fall in early trading after cutting its annual forecast. There has been a decrease in sales in malls and department stores, and the strong US dollar is cutting away at their foreign revenue, resulting in only a 1% increase in revenue this year.  Shares fell to as low as $100.75 in premarket trading on Thursday, following a 40% decline in 2015.
Chief Executive officer Stefan Larsson, previously an executive in Gap Inc., took over the company from founder Ralph Lauren in November 2015. Larsson has effected a reorganisation of the company in order to cut costs of around $110 million by end of fiscal 2017, as well as endeavouring to keep inventory low. Ralph Lauren is hopeful for the future, stating that: “While our recent results have been disappointing, I am greatly encourage by the changes that are already taking place since the appointment of Stefan Larsson”.

 

 

Ralph Lauren Shares Fall After Annual Forecast is Cut

Avatar-Foto

Written by Julie Duan

Julie is a finalist studying English Literature at Warwick University with a keen creative spirit. Her obsession with fashion grew out of reading her mother’s Vogues as a child. She is an enthusiastic painter and an even more enthusiastic Beyonce fan. Her style icons include Karl Lagerfeld and her mother.


Schreibe einen Kommentar

Deine E-Mail-Adresse wird nicht veröffentlicht. Erforderliche Felder sind mit * markiert