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.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"