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Ralph Lauren’s dismal quarter shows it remains too reliant on department stores

August 4, 2020

Via: Fortune

Ralph Lauren reported poor first-quarter results on Tuesday that showed it will need to take more of its destiny into its own hands to weather major retail storms like the current COVID-19 crisis.

The fashion company reported weaker than expected sales, with North America revenue seeing the biggest decline, falling 77% to $165 million. In Europe, revenue decreased 67% and in Asia, the furthest market along in terms of recovering from COVID, it was down fell 34%.

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