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Michael Kors and Ralph Lauren dial back promos

The Wall Street Journal 08/08/2017

The management teams at Michael Kors and Ralph Lauren have reduced the number of items sold through department stores to drive more full-price sales. For Michael Kors, revenues declined 3.6 percent as the brand saw its department store sales decline 23 percent. Ralph Lauren’s revenue fell 17 percent in North America. Profits at both companies exceeded Wall Street’s expectations.

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