Ralph Lauren Weighed Down by Sluggish Store Sales
Store sales in North America decline despite increase in marketing for 50th anniversary
Ralph Lauren Corp. increased marketing spending 30% in its latest quarter to celebrate its 50th anniversary. Unfortunately for the fashion house, the hype hasn’t translated to spending in stores.
Overall revenue rose 1.6% to $1.69 billion for the three months to Sept. 29, and digital revenue was up 9%. But in North America same-store sales in brick-and-mortar outlets declined 1%.
The...