Us Light Luxury Brand R L Will Focus On Brand Core Product Development.
Excessive inventory affects sales, and its profits and turnover continue to suffer.
Light luxury
Ralph LaurenCEO Stefan Larsson revealed that it will focus again.
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 Ralph Lauren needs to focus on its core expertise again.
He said: "the company has not paid enough attention to its core business, nor has it devoted itself to it.
product
With the development of marketing, marketing and shopping experience, the key to brand returning to the top is to focus on the development of classic logo style and to change the current goal.
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, and the stock price fell 22% on that day. Chairman Ralph Lauren admitted that its performance was disappointing. Stefan Larsson will give 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 severe challenges.
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