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Ralph Lauren drops after North America sales disappoint

Published 02/01/2018, 08:43 AM
© Reuters.  Ralph Lauren drops after North America sales disappoint
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  • Shares of Ralph Lauren (NYSE:RL) are sliding in early trading after the retailer's comparable sales fell 6% in FQ3 to miss the consensus estimate for a 4% drop.
  • Comparable sales were down 10% in North America and in a bit of a shocker were 27% lower in the e-commerce channel due to a "planned reduction" of promotions and drop in onlien traffic. Revenue was up for the Europe (+8) and Asia (+7%) businesses.
  • Looking ahead, the company expects revenue to fall 8% to 9% for the full fiscal year and operating margin to fall in range of 10% to 10.5%.
  • Previously: Ralph Lauren beats by $0.16, beats on revenue (Feb. 1)
  • RL -6.31% premarket to $107.10.
  • Now read: PVH Remains A Hold As We Approach The Holiday Season


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