Ralph Lauren’s earnings were down 19% for the fourth quarter after taking a hit from currency fluctuations. The stock has been one of the worst performing this year. The iconic clothing brand beat wall street estimates with earnings of $1.41 per share and revenue of $1.89B but profit was down on last year’s numbers.The company announced it will buyback an additional $500M shares following the disappointing holiday quarter. Ralph Lauren is hoping to cut costs by centralizing its brand labels and investing heavily in its online retail presence. Retail sales were up 5.7% but were dented by the strong dollar. The designer retailer struggled to keep pace with heavy discounting from competitors. Shares were down on the earnings results.
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