Ralph Lauren says North America sales to come under pressure
[BENGALURU] Ralph Lauren Corp said it expects sales in North America for the rest of the year to be pressured by a tough retail environment and weakness in spending by foreign tourists, sending its shares down about 4 per cent.
Chief Executive Officer Patrice Louvet said the company has taken a slightly more cautious view of the retail environment for the year ahead, but continues to "clearly see challenges with brick-and-mortar traffic... including foreign tourist volatility."
"We still expect Q1 will be the strongest quarter of the year as the North America retail environment has become somewhat more volatile in recent months," Chief Financial Officer Jane Nielsen told analysts.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue