NEW YORK — Shares of Ralph Lauren Corp. fell nearly 8.6 percent Wednesday after the company posted a first-quarter decline in profits.
Shares closed at $173.13 in Big Board trading on Wednesday. While the results generally were in line with Wall Street estimates, the fashion firm typically posts results that beat estimates by a healthy margin. In the current quarter, higher operating expenses due to overall business expansion, required infrastructure investment and the integration of the Chaps men’s sportswear operations hurt the bottom line.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)