Light Luxury Brand Ralph Lauren Q4 Profits Plunged, New CEO Pressure
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The impact of sales, its profits and turnover continued to suffer heavy losses, the us light luxury brand RalphLaurenCEOStefanLarsson revealed that it will focus again.
brand
Core product development.
RalphLauren 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 pformation of the company was led by the new CEOStefanLarsson himself. He took over from RalphLauren in November last year and his pressure has never diminished since taking office.
StefanLarsson said on Thursday's earnings conference that he has been assessing the company's business in the first three months of his office.
StefanLarsson points out that RalphLauren 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 product development.
Marketing Management
And the development of shopping experience, the key to the brand can return to the peak is committed to the development of classic logo style, and 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.
RalphLauren lowered its performance forecast in February this year, and its share price plummeted 22% on that day. Chairman RalphLauren admitted that the performance was disappointing. StefanLarsson will deliver the first performance answer to Wall Street later in the spring. Some industry analysts believe that the current performance trend of RalphLauren will make the new CEO face severe challenges.
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