S&P moves Ralph Lauren view to stable

S&P said it revised its outlook for Ralph Lauren Corp. to stable from negative and affirmed all its ratings, including its A- senior unsecured note ratings.

“The ratings affirmation and outlook revision to stable reflects the company's progress in its brand elevation strategy. RL has taken targeted steps toward improving its brand to premium status while trying to reach younger and more technology-savvy consumers. The company's overall performance was modestly improving pre-Covid-19 as it embarked on its 2017 brand elevation strategy; however, the pandemic delayed its efforts,” S&P said in a press release.

The stable outlook mirrors the anticipation for continued organic growth driven by RL’s brand elevation strategy and for financial policy to be conservative with leverage maintained under 1.5x, the agency said.

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