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Ralph Lauren beat fueled by fewer discounts, cost cuts


(Reuters) - Ralph Lauren Corp topped quarterly profit and revenue estimates as the luxury apparel maker benefited from a focus on offering fewer discounts and cost cutting, sending its shares up over 5 percent on Tuesday.The New York-based fashion company, like peers Tapestry Inc and Calvin Klein-owner PVH Corp, has pulled heavily discounted products from department store shelves to regain its premium brand status.Ralph Lauren, known for its signature Polo shirts and classic tweed blazers, is also investing in its core brands, cutting jobs, reducing excess inventory and shutting ...

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First Published: Tue, July 31 2018. 21:06 IST