Ralph Lauren Corp.’s new Chief Executive Officer Stefan Larsson has fired a warning shot at department stores. While he seeks to refurbish the iconic American fashion house, it won’t come fast or at the cost of heavy discounting, according to Shelly Banjo of Bloomberg Gadfly. In a presentation to investors on Tuesday, Larsson said his turnaround plan includes an overhaul of the supply chain, with a return to growth not seen until 2019.

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