Ralph Lauren sees lower wholesale sales this year

Ralph Lauren Corp said it expects lower wholesale sales this fiscal year, hurt by a slowdown in Europe and the closure of some China wholesale operations it will eventually replace with its own stores. Photo: Ralph LaurenThe clothing company and retailer expects revenue for the current fiscal year, begun April 1, to be up by a "mid-single digit" percentage, compared with a 20 percent rise in the previous year. Wholesale sales will edge down, while retail sales should be up by a low-double-digit

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