Ralph Lauren Corporation, a global leader in the design, marketing, and distribution of premium lifestyle products, has announced results for its third quarter. In the period under review, the fashion retailer’s revenue declined 12 per cent compared to last year on a reported basis and was down 11 per cent in constant currency, in line with the guidance provided in November.
On a reported basis, international net revenue declined 6 per cent in the third quarter while North American revenue was down 15 per cent to last year. On a constant currency basis, international revenue was down 5 per cent.
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Commenting on third quarter results the outgoing President and Chief Executive Officer Stefan Larsson said that the company continued to drive the execution of the Way Forward Plan – refocusing and evolving its iconic product core, cutting lead times, and aligning supply with demand – to put the foundation in place to drive demand back to the business.
