Ralph Lauren Profit Tops Estimates on Larsson’s Turnaround Plan
(Bloomberg) -- Ralph Lauren Corp., the 49-year-old brand known for preppy fashion and premium prices, reported first-quarter profit that exceeded analysts' estimates as new Chief Executive Stefan Larsson's turnaround plan takes hold.
Profit was $1.06 a share, excluding some items, in the period ended July 2, the New York-based company said in a statement Wednesday. Analysts projected 89 cents a share, on average.
The results boosted optimism that Ralph Lauren will be able to revive earnings growth after two years of profit declines. The fashion house is cutting excess inventory at department stores, slashing 1,000 jobs, closing stores and hiring new executives as part of Larsson's “Way Forward” plan. The company also will refocus on its three core brands: Ralph Lauren, Polo and Lauren.
Ralph Lauren rose 3.6 percent to $98.50 at 8:07 a.m. in early trading in New York. The shares had dropped 15 percent this year through Tuesday.
To contact the reporter on this story: Stephanie Wong in New York at swong139@bloomberg.net. To contact the editors responsible for this story: Kevin Orland at korland@bloomberg.net, Paul Barbagallo
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
