The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Ralph Lauren Corp. on Thursday reported fiscal second-quarter profit of $45 million.
The New York-based company said it had profit of 55 cents per share. Earnings, adjusted for restructuring costs, were $1.90 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.
The upscale clothing company posted revenue of $1.82 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.83 billion.
Ralph Lauren shares have fallen slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 6 percent. The stock has declined 24 percent in the last 12 months.
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.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
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.