Ralph Lauren Corp.'s effort to streamline and restructure its business, which includes cutting back its exposure in department stores and reducing shipments to off-price channels, is beginning to pay off.
Defying stubborn department store and mall traffic weakness — and after an abysmal start to the retail year — consumers are loosening their purse strings, just in time for the critical holiday season.
Off-price chains, which lure customers away from department stores with prices up to 70% lower than traditional retail, are one of a few bright spots in a seemingly bleak retail environment.
