Ralph Lauren stepped down as CEO of his namesake label in September and Stefan Larsson was appointed as his successor—leaving the world of fashion in a state of shock. In the upcoming weeks we would learn that Lauren wasn’t completely leaving the company, but would be staying on board as its executive chairman and chief creative officer while Larsson would focus on the more business oriented goals for the brand. And now the big change finally seems to be paying off.
Ralph Lauren Corp. posted second-quarter profit that exceeded the estimates of analysts, which appear to be a result of the cost-saving methods put in place from the company’s restructuring, reports Business of Fashion. The legendary New York-based company released a statement on Thursday sharing the news that earnings in the quarter through Sept. 26 were $2.13 a share—much higher than $1.73 average that analysts had previously estimated.
It’s safe to say that between Larsson’s track record at Gap and H&M and Lauren’s continued involvement with the brand’s creative that Ralph Lauren will likely continue to see success and growth in the upcoming year. We can expect Larsson to continue his focus on driving full-price sales, something that has been tricky for many retailers in today’s retail climate. However, if these latest numbers are any indicator of the results Larsson can generate, then we’ll certainly be watching to see what else he has in store for the brand’s future.