Ralph Lauren Profits Plunged 67% In The Fourth Quarter

It is understood that due to excessive inventory affecting sales, its profits and turnover continued to suffer heavy losses.

Ralph LaurenCEO Stefan Larsson revealed that it will refocus on brand core product development.

Ralph Lauren also said it would continue to restructure its brand.

On Thursday, the company released fourth quarter earnings data, and in the first three months of April 2nd, the company's profits plunged 67%, recording 41 million dollars, while the income was relatively flat, which was $1 billion 900 million.

The main reason is the cost of restructuring, the decline in US tourists and excessive inventory, leading to excessive discount activities.

The company's change led by the new CEO Stefan Larsson led him to take over Ralph Lauren in November last year and his pressure has not diminished since taking office.

Stefan Larsson said on Thursday's earnings conference that he has been assessing the company's business in depth in the first three months of his presidency.

Stefan Larsson points out that

You need to focus on your core expertise again.

He said: "the company has not paid enough attention to the core business, nor is it committed to the development of product development, marketing and shopping experience. The key to the brand's return to its peak lies in the development of classic logo style and the pformation of its current goals."

He continued: "only by adhering to the brand DNA can we continuously develop brand marketing and shopping experience to better reflect the way people dream of life nowadays."

He stressed the need to improve the cost structure and efficiency of the company and make the overall organization more flexible, but did not disclose whether there were any layoffs.

Ralph Lauren lowered its performance expectations in February this year.

On the same day, the chairman of Ralph Lauren admitted that the performance was disappointing. The Stefan Larsson will hand over its first performance answer to Wall Street later in the spring. Some industry analysts believe that the current performance trend of Ralph Lauren will make the new CEO face serious challenges. 22%.