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Ralph Lauren shut 25% of its department store distribution in the last year

If you’re in the market for something new from Ralph Lauren Corp. you may have to shop around a bit more. Ralph Lauren (RL) Chief Executive Patrice Louvet said, on the Wednesday morning earnings call, that the luxury brand closed about 25% of its U.S. department store distribution during fiscal 2018, as well as 31 directly-operated retail stores. “Combined, these actions are repositioning our overall store base to deliver high-quality future sales growth,”Louvet said, according to a FactSet transcript.