Ralph Lauren lets people go

Ralph Lauren lets people go

Fashion company Ralph Lauren is going through a restructuring program and that has its consequences for its staff. Currently, about 5 % will apparently be let go, but that number can still grow.

New company structure

At the end of the previous quarter, Ralph Lauren had 25,000 employees and 15,000 of those are full-time equivalents. Since mid-May, the company is undergoing a restructuring plan, which will render 750 positions redundant. It is unclear whether more jobs will be cut later on.

 

Ralph Lauren's new structure was presented in February and the company now hopes to save up to 100 million dollars (90 million euro). Its goal is to create a core management team for each brand, with 6 brand groups in total.

 

Christopher Peterson has been appointed Global Brands director in April, while the six separate group directors will have to report to him. Peterson expects this new model to result in higher gross margins.

 

Ralph Lauren's quarterly net profit dropped from 153 million dollars (137 million euro) to 124 million dollars (111 million euro). Net profit did grow 1 % however, to 1.89 billion dollars (1.7 billion euro).

Questions or comments? Please feel free to contact the editors


Italian gelato is European market leader

11/08/2017

Italian cuisine is revered all across the globe, with people often thinking of pizza and pasta. However, Italians also have an ironclad reputation when it comes to ice cream. This is also reflected in sales, because Italians are the European market leader.

Oprah Winfrey and Kraft Heinz join forces

10/08/2017

American tv star Oprah Winfrey has joined forces with Kraft Heinz to develop a range of “healthy and nutritious soups and side dishes”. The range, currently only available in the United States, should help Kraft Heinz generate turnover growth once more.

Ahold Delhaize continues to struggle in Belgium

09/08/2017

Belgian-Dutch supermarket group Ahold Delhaize has had a very good second quarter, with the company thinking last year's merger could result in lower costs than previously anticipated. On the other hand, Belgium's performance is still weak.

Sainsbury’s wants to cut 1,000 jobs

07/08/2017

Sainsbury’s, the second largest supermarket chain in the United Kingdom, is allegedly planning to cut 1,000 office jobs in order to save up to 500 million pounds (550 million euro).

Higher Kraft Heinz profit despite lower turnover

04/08/2017

Food company Kraft Heinz’ second quarter like-for-like turnover dropped slightly, but the American company did manage to seriously enhance its profitability.

Max Koeune becomes new McCain CEO

03/08/2017

Max Koeune will become potato processing company McCain Foods’ new CEO. The Canadian family business revealed the news after its current CEO, Belgian Dirk Van de Put, moved to the world’s largest snack manufacturer, Mondelez.

Back to top