Ralph Lauren Tumbles After Weak Holiday Hampers Comeback Bid
- Sales declined more than expected in company’s latest quarter
- New CEO has uphill fight in restoring brand’s cachet
Photographer: Chris Ratcliffe/Bloomberg
Ralph Lauren Corp. plunged the most in a year after posting disappointing holiday-season sales, signaling that a comeback under new Chief Executive Officer Patrice Louvet may be tougher than expected.
The preppy fashion label reported a same-store sales decline of 6 percent last quarter, which included the crucial Christmas season. Analysts had projected a 4.3 percent drop, according to Consensus Metrix.