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Ralph Lauren's quarterly sales down 13.2 pct
August 8, 2017 / 12:11 PM / 4 months ago

Ralph Lauren's quarterly sales down 13.2 pct

Aug 8 (Reuters) - Ralph Lauren Corp reported a 13.2 percent fall in sales as the company’s move to sell more items at full price discouraged shoppers in North America.

The company’s net income was $59.5 million, or 72 cents per share, in the first quarter ended July 1, compared with a loss of $22.3 million, or 27 cents per share, a year earlier.

Ralph Lauren’s year-earlier quarter was hit by an $86 million restructuring charge.

Revenue fell to $1.35 billion from $1.55 billion. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Anil D‘Silva)

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