The American fashion company has published its Global Citizenship & Sustainability Report for 2021, revealing ambitious new responsibility targets, including the reduction of its greenhouse gas emissions to zero by 2040.
Ralph Lauren Corp forecast on Thursday full-year revenue growth below analysts' estimates, as it remains cautious of fresh lockdowns, store closures and curbs in some of its markets from a new wave of virus cases.
Ralph Lauren Corp said on Tuesday it would cut 15% of its global workforce by the end of this fiscal year as the luxury retailer strives to lower costs and ride out the impact of COVID-19 on sales and shopping habits.
The two iconic American fashion companies have announced that they are joining many of their industry peers and implementing furloughs of retail associates and corporate salary cuts, among other measures.
With two-thirds of its stores in China temporarily closed due to the epidemic, the American fashion house expects the health crisis to have a negative impact of between $55 million and $70 million on its sales in 2020.