Ralph Lauren Hit by North American Declines

Ralph Lauren Corp. still has some work to do at home. While the company’s strategic plan is gaining traction abroad — and enough so to easily push it past fourth-quarter profit expectations — investors zeroed in on results in North America, where the right fashion balance has been elusive. Patrice Louvet, president and chief executive officer, told WWD that the framework he laid out for the company in June is working and that now it’s a matter of making smaller adjustments and executing. “This is the end of the year and, at this point, we feel good about the start we have. When we look ahead, it’s really run the play.” But there’s plenty of game left. Revenues in North America fell 7 percent to $708 million, while Europe posted a gain of 4 percent to $435 million and Asia rose 6 percent to $272 million. Overall revenues for the quarter ended March 30 slipped modestly to $1.51 billion from $1.53 billion. (Despite the decline, revenues for the full year increased to $6.31 billion from $6.18 billion). And the firm’s net income for the fourth quarter slid to $31.6 million, or 39 cents a diluted share, from $41.3 million, or 50 cents, a year earlier. However,

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD http://bit.ly/2LEwxwC