latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/ralph-lauren-taps-credit-facility-pauses-share-buyback-due-to-coronavirus-57838580 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Ralph Lauren taps credit facility, pauses share buyback due to coronavirus

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Ralph Lauren taps credit facility, pauses share buyback due to coronavirus

New York-based Ralph Lauren Corp. is drawing $475 million from its global credit facility and halting any incremental share repurchases as part of a broader set of measures to preserve its financial flexibility amid the coronavirus crisis.

The apparel and accessories retailer said it is also managing its expense structure across all key areas of spend, reducing or deferring capital expenditures and aligning inventories to anticipated demand.

In addition, it is pausing all non-critical capital build-out and reviewing all real estate projects.

"In this challenging global context, we will prioritize the areas where we can have the greatest impact," President and CEO Patrice Louvet said in a statement.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.

In terms of operations, Ralph Lauren said it will continue to assess on a location by location basis to determine when to resume operations. The coronavirus outbreak has forced the company to temporarily close some of its offices, stores and fulfillment centers in China and other parts of the world.

The company said it has enlisted a medical expert to help guide its decision-making around risk mitigation.

Ralph Lauren is starting the production of 250,000 masks and 25,000 isolation gowns for donation with its manufacturing partners.