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Fly News Breaks for February 1, 2018
RL
Feb 1, 2018 | 14:32 EDT
Piper Jaffray analyst Erinn Murphy noted that Ralph Lauren's underlying trends in North America wholesale were down mid-single digit, which she sees being a reflection of weak traffic and the brand still not being where it needs to be with consumers. She said Ralph Lauren is "still in wait-and-see mode" in terms of a revenue inflection, given that management left open the door for pulling back further in the off-price channel. Murphy keeps an Underweight rating on Ralph Lauren and lowered her price target on the stock to $102 from $109.
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