Welcome to our dedicated page for Ralph Lauren news (Ticker: RL), a resource for investors and traders seeking the latest updates and insights on Ralph Lauren stock.
Ralph Lauren Corporation reports news on its global luxury lifestyle business, which designs, markets and distributes apparel, footwear and accessories, home products, fragrances and hospitality offerings under brands including Ralph Lauren, Polo Ralph Lauren, Lauren Ralph Lauren, Ralph Lauren Purple Label, Double RL and Chaps.
Recurring updates include quarterly operating results by geography and channel, direct-to-consumer and wholesale sales trends, dividend declarations on common stock, product collections, brand collaborations and official outfitter relationships tied to major sporting events. Company announcements also cover foundation initiatives, Pink Pony cancer-care programs and fashion manufacturing partnerships that connect the brand to community and industry-development projects.
Ralph Lauren introduces ‘The Lauren Look,’ a subscription apparel rental service under the Lauren Ralph Lauren brand. This pioneering initiative allows consumers to engage with the brand while offering a sustainable approach to fashion. The subscription starts at $125 per month and provides access to an array of clothing options, curated by expert stylists. The launch, planned for March 2nd in North America, aims to cater to modern consumers' evolving wardrobe needs while reducing clothing waste through an after-use donation program.
Ralph Lauren Corporation (NYSE:RL) reported Q3 Fiscal 2021 earnings per diluted share of $1.61, down from $4.41 YoY. Revenue decreased by 18% to $1.4 billion, with North America and Europe revenue down 21% and 28%, respectively. However, digital sales surged by over 70% in Europe and Asia, driving gross margin up to 64.9%. The company announced a strategic realignment plan, expecting pre-tax charges of $300-$350 million but aims for $200-$240 million in annual savings. For Q4, revenue is anticipated to decline mid-to-high single digits as pandemic impacts persist.
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Ralph Lauren Corporation (NYSE:RL) reported a second quarter Fiscal 2021 net loss of $39 million, or ($0.53) per share, compared to a profit of $182 million, or $2.34 per share in the same period last year. Adjusted earnings were $1.44 per share, down from $2.55. Revenue fell 30% to $1.2 billion, with North America revenue decreasing 38%. Despite challenges, gross profit rose to $799 million, and digital sales saw double-digit growth. The company is executing a strategic realignment plan, including workforce reductions, expected to save $180-200 million annually.
Ralph Lauren Corporation (NYSE:RL) has partnered with Parity.org and other fashion leaders to launch a roadmap aimed at achieving gender parity in the fashion industry. The initiative, titled 'Unlocking Gender Parity in Fashion,' outlines five key areas for companies to focus on, including executive recruitment, equal pay, and benefits that promote work-life balance. This collaborative effort seeks to address the gender gap at all organizational levels, with an emphasis on measurable progress.
Ralph Lauren Corporation (NYSE:RL) has appointed Valerie Jarrett to its Board of Directors, effective October 20, 2020. With this addition, the Board now consists of 13 directors. Jarrett is a Senior Distinguished Fellow at the University of Chicago Law School and a seasoned leader with extensive experience in public and private sectors. Ralph Lauren's Executive Chairman, Ralph Lauren, and CEO, Patrice Louvet, highlighted her expertise as pivotal for the company’s future. Jarrett expressed her passion for the company’s purpose-driven culture and her commitment to its success.