Retail

Under Armour, Ralph Lauren rewarded by investors for Covid turnarounds

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Pedestrians walk past a Ralph Lauren Corp. store in the Central district of Hong Kong, China, on Sunday, Oct. 27, 2019.

Paul Yeung | Bloomberg | Getty Images

Some retailers have used the past year and a half to accelerate turnaround plans and prune fruitless assets while Wall Street wasn’t watching as closely.

Companies such as Ralph Lauren and Under Armour are now reaping the benefits of those efforts as shoppers head back to stores to restock their closets — and investors are noticing.

According to BMO Capital Markets analyst Simeon Siegel, much of the industry has been shielded by “Covid cover” during the health crisis. With shoppers hunkered down at home, expectations were low. That…



Source cnbc.com

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