How To Save The Overall Situation In The Collapse Of Profits Of Ralph Lauren
The profit of us light luxury brand Ralph Lauren plummeted by 67%, while the new CEO said it would focus on brand core product development again.
On Thursday, the company announced the fourth quarter.
Financial reports
According to the first three months of April 2nd, the company's profit plunged by 67%, which recorded a $41 million, 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
Ralph Lauren
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 was cut in February this year.
achievement
It is expected that the stock price plummeted 22% on that day. Chairman Ralph Lauren admitted that the performance was disappointing. Stefan Larsson will deliver the 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 severe challenges.
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