Ralph Lauren Profit Boosts Optimism

The video discusses Ralph Lauren's turnaround strategy, which includes cost-cutting and store closures, contrasting it with other retailers like Michael Kors and Coach who are also trying to reclaim their luxury brand status. It highlights the struggles of department stores amid changing consumer spending patterns and the shift towards ecommerce, especially among luxury brands that were initially hesitant to sell online.

What is one of the key strategies Ralph Lauren is implementing to improve its business?

• Expanding into new markets

• Increasing product prices

• Launching a new advertising campaign

• Pulling products from department stores

How does Ralph Lauren's approach differ from that of Michael Kors?

• Ralph Lauren is cutting costs while Michael Kors is protecting margins

• Michael Kors is expanding into new markets

• Michael Kors is discounting heavily

• Ralph Lauren is focusing on online sales

What has been a significant factor in supporting the US GDP according to the discussion?

• Consumer spending

• Government spending

• Export growth

• Investment in technology

Which company reported an increase in e-commerce sales despite flat foot traffic in department stores?

• JCPenney

• Coach

• Michael Kors

• Ralph Lauren

What was a common hesitation among luxury brands regarding e-commerce?

• Lack of digital infrastructure

• Fear of losing brand exclusivity

• Belief that their products were too nice for online sales

• Concerns about online security