From Breakingviews - Ralph Lauren sells luxury at too steep a discount
a promising financial outlook for investors on Monday. It suggests that the $6 billion U.S. retailer, started more than a half-century ago by the man whose name adorns the label, is languishing too deeply in the bargain bin.the brand. Since 2018, Ralph Lauren has closed more than two-thirds of its wholesale business by halting sales to department stores such as Belk, slashed promotions and lifted its average unit price 60%.
That kind of performance would be broadly in line with some fashionable European peers, but Ralph Lauren’s 15% operating margin target also lags estimates of theirs by at least 5 percentage points. The House of Polo trades at 10 times expected 2025 net profit, per estimates on Refinitiv, compared to Burberry’sRegister now for FREE unlimited access to Reuters.com
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