Giant clothing designer and accessories designer, Ralph Lauren Corp (RL.N) reported a 13.2 percent fall in sales as the company’s move to sell more items at full price discouraged shoppers in North America.
The company’s net income was $59.5 million, or 72 cents per share, in the first quarter ended July 1, compared with a loss of $22.3 million, or 27 cents per share, a year earlier.
Ralph Lauren’s year-earlier quarter was hit by an $86 million restructuring charge.
Revenue fell to $1.35 billion from $1.55 billion, Reuters reports.
