default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Ralph Lauren Profit Tops Estimates as Restructuring Cuts Costs

Ralph Lauren Corp. posted second-quarter profit that exceeded analysts’ estimates as its cost-saving reorganisation efforts begin to show results.
Ralph Lauren store | Source: Shutterstock
By
  • Bloomberg

NEW YORK, United StatesRalph Lauren Corp., the lifestyle retailer known for preppy fashions, posted second-quarter profit that exceeded analysts' estimates as its cost-saving reorganization efforts begin to show results.

Earnings in the quarter through Sept. 26 were $2.13 a share, the New York-based company said in a statement on Thursday. Analysts estimated $1.73, on average.

Ralph Lauren, which said in September that former Gap Inc. executive Stefan Larsson would succeed the company's founder as chief executive officer, is working to curb discounts and boost full-price sales. The company is expanding into new product lines to combat falling traffic and working to cut $100 million in annual costs by the end of its 2017.

This month marks Larsson's first as CEO. The executive has been credited with reviving Gap's Old Navy brand and previously held several positions at Hennes & Mauritz AB. Lauren, 76, will remain executive chairman and chief creative officer.

By Lindsey Rupp; editors: Nick Turner, Kevin Orland.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the fast-changing fashion sector, including markets, investors and deals.

In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.


For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.



L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections