Slowing economies in Europe and the Far East are pinching Ralph Lauren Corp.
In reporting a 5.1 percent increase in profits in the first quarter, the fashion company Wednesday said it expects consolidated net second-quarter revenues to decline by a mid-single-digit percentage with a low-double-digit fall in wholesale revenues offset by a mid-single-digital increase in retail sales. Wall Street pushed the company’s stock down 1.2 percent to $151.17 on the second-quarter outlook.
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