Ralph Lauren Corporation (RL) reported third quarter sales and earnings results yesterday that missed expectations, sending its stock sliding 18 percent to under $140, a multiyear low.

Revenues rose by less than 1 percent to $2.03 billion in the three months ending in December, falling short of expected sales of $2.11 billion. Excluding the net negative impact from foreign currency effects, the increase was 3 percent, with growth in all geographic regions.

Read more at Sourcing Journal.