Ralph Lauren’s new president and chief executive officer, Stefan Larsson, has his work cut out for him.

Profits at the iconic Americana brand tumbled from $124 million to $41 million in the fourth quarter as its wholesale division experienced a 6 percent decrease in sales to $942 million, mostly due to a decline in North America, while consolidated comparable store sales fell 6 percent.

But on the bright side, licensing revenue was up 8 percent to $40 million in the three months ended April 2, reflecting higher royalties from increased sales of Ralph Lauren, Polo Ralph Lauren and Lauren products worldwide.

 

Read more at Sourcing Journal.