I believe that merchants are very important to a retail organization. They shape the future of their company with innovative and creative ideas. They're always on the lookout for new fashion trends. They visit stores and designers to learn and see the future. Fashion leadership starts at the top and then permeates the whole store organization. Whether it's a color, new look or new allocation of space, it's the merchant who will decide. Some of retail's top merchants I admire include Mike Gould, Roger Farah, Mickey Drexler and Karen Katz.
I think that Roger Farah (62) has another career in his future plans. It's just been announced the he would leave Ralph Lauren Corporation after spending 14 years as president and chief operating officer. Most recently he was executive vice chairman. In 2013, he turned over the reins of the company to Jackwyn Nemerov and has been phasing out of the daily operation of the company since that time. I'm speculating, but I think it's possible that this fall Mr. Farah will join J.C.Penney as the successor of Myron (Mike) Ullman III.
New York -- Ralph Lauren Corp. said that its net income rose 5% in its first quarter, but the company forecast a revenue decline in the current quarter and sounded a note of caution about the weak global economy hurting consumer spending. "The outlook for consumer spending and global economic growth remains challenging and we are planning our business accordingly," said CEO Roger Farah. Revenue rose 4% to $1.59 billion, from $1.53 billion. Revenue in Ralph Lauren stores rose 5% to $857 million as the company opened new stores and grew online operations. Same-store sales were up 1%. Revenue
Ralph Lauren saw significant e-commerce sales growth during Q3 of 2012, with online sales climbing 31 percent compared to the same quarter the previous year. Sales via mobile devices have also made a strong showing, accounting for 20 percent of the traffic to RalphLauren.com and nearly 10 percent of sales.