Ralph Lauren announced it would be scaling back its inventory in underperforming department stores by 20% to 25% by next October.
Business Insider reported that heavy discounts were hurting the brand and its profits. One of Ralph Lauren’s largest wholesale accounts is Macy’s, which is known for its deep discounts and promotions.
In an effort to shrink stock leftover, the company has decreased its inventory by 31% in the past year.
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