Ralph Lauren Australia Online
Faced with the sluggish global department store and retail industry, Ralph Lauren’s situation has begun to improve slowly after he ushered in a new CEO. Ralph Lauren’s net profit surged 212% to $143 million in the second quarter ended September 30, while sales fell 8.6% to $1.66 billion, higher than Wall Street analysts’expectations of $1.65 billion. Ralph Lauren’s sales fell 10.7% to $3.011 billion in the first half of the fiscal year from a year earlier.
Sales in North America fell by 16.1% to $878.7 million, same-store sales by 9%, first half sales by 16.5% to $1.586 billion, sales in Europe by 39% to $463 million, same-store sales by 6%, first half sales by 45% to $786 million, and sales in Asia by 218.8 million, same-store sales by nearly the same level as last year. Sales rose by 3%, annual sales in the first half fell by 0.4% to $426 million, sales in other parts of the world decreased by 5.1% to $107 million, same-store sales fell by 6%, and annual sales in the first half fell by 4% to $213 million.
Julie Nielsen, chief financial officer of Ralph Lauren Group, said Ralph Lauren would launch a global family event that combines digital and outdoor experience. To attract more young consumers, Ralph Lauren would increase its exposure on social media platforms such as Instagram.
Patrice Louvet, Ralph Lauren’s new CEO, said that in the future, Ralph Lauren’s business in U.S. department stores and parity chains would be further reduced in order to rebuild its brand image and restore the position of light luxury that consumers have gradually forgotten. At the same time, the group will also strengthen the focus on the business of electricity, to provide consumers with better services.
Ralph Lauren Launches Online flagship stores in China