Ralph Lauren to shrink office and store footprint as sales remain sluggish

Retail Dive

As COVID-19 and brand issues continue to drag on Ralph Lauren’s sales, the luxury apparel seller is cutting costs, including by shrinking its corporate office space and closing stores.

“Having already worked to optimize its brand portfolio and create a leaner cost structure, we believe [Ralph Lauren] is taking the necessary steps to better position itself for the post-pandemic environment,” analysts with Telsey Advisory Group led by Dana Telsey said in an emailed research note.

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