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Polo Ralph Lauren Quarterly Profit Down 73%
(Source: LuxuryBrandNetwork.com)
Polo Ralph Lauren said revenue for the quarter ended 31 March 2009 fell 1%, while operating income plunged 73% to $40 million compared to $144 million the prior year. The decline in profit was attributed to lower retail segment profitability, promotional activity in certain domestic product categories and negative foreign currency translation. . . . keep reading
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Polo Ralph Lauren Lowers Expectations
(Source: LuxuryBrandNetwork.com)
Polo Ralph Lauren CFO Tracey Travis now says revenue for fiscal 2010, which begins in March, will be between flat and "slightly below" this year. Travis said the company would not provide a profit forecast as a result of "a tremendous amount of uncertainty regarding how long the retrenchment in consumer spending will last." . . . keep reading
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Luxury Outlook: EXCLUSIVE ANALYSIS
(Source: LuxuryBrandNetwork.com)
Luxury CEOs say the outlook for the fourth quarter and into 2009 is deteriorating rapidly. Even the most optimistic--including LVMH, Coach and Burberry--see growth rates slowing. Current coverage includes: Bulgari, Tifffany, Burberry, Coach, LVMH, Hermès, Williams-Sonoma, Liz Claiborne, Hugo Boss, Tod's Group, Ann Taylor and Nordstrom. . . . keep reading
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Polo Goes Mobile
(Source: WWD.com)
Polo Ralph Lauren announced plans that will enable consumers to buy with their mobile phones. . . . keep reading
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