holloway polo shirts Stocks plunge as attention returns to weak economy

la martina polo Stocks plunge as attention returns to weak economy

NEW YORK Stocks plunged again Wednesday as investors turned their attention back to the weak economy and Europe debt problems. Most of the big gains that followed a Federal Reserve pledge to extend super low interest rates vanished.

The Dow Jones industrial average fell more than 500 points. The average had plummeted more than 300 points within minutes of the opening bell and was down as many as 468 points by late morning.

On Tuesday, the Dow gained 429 points after the Fed said it planned to keep interest rates extremely low at least through the middle of 2013. It was the first time the Fed announced such a timetable. But the day gains were likely just a blip caused by computerized trading based on programs that dictate when to buy or sell, some investors and analysts said.

The rally was unbelievably fast, it as though every computer on Wall Street hit the point where the program said buy, buy, buy, buy, buy said Daniel Alpert, managing partner of investment bank Westwood Capital. don read Fed announcements, people do and they were reacting in a negative way. economy.

always going to get people looking for a silver lining in a bear market, and that all that Tuesday was, said Paul Simon, chief investment officer of chief investment officer for Tactical Allocation Group, which has $1.5 billion in assets under advisement. are a complex set of issues here and in Europe, and there aren a whole lot of positives there.

The European financial system has been battered by fears about banks holdings of bonds issued by heavily indebted countries, such as Greece and Portugal. This week, those concerns have evolved into fears about banks exposure to other banks, analysts say. Societe Generale, France second largest bank, was down more than 20 percent at one point.

the same game of Old Maid playing out in Europe that was played out here during the subprime mortgage crisis, said Quincy Krosby, an economist and market strategist with Prudential financial. As the contagion hits ever larger countries, such as France, ramifications for the banks are more detrimental, Krosby said. market lower. Bank of New York Mellon Corp. fell 6.8 percent after it said it will cut 1,500 jobs, or about 3 percent of its global work force, to lower costs. As a group, financial stocks in the S 500 fell 5.4 percent, the biggest decline of the 10 industries that make up the index. banks are to the European financial system, via their ownership of debt of European countries and banks, Krosby said. From a trader perspective, the end of the day, if there one cockroach, there a million, she said.

Europe accounts for about 17 percent of JPMorgan Chase Co. revenue and 21 percent of its assets, the bank CEO Jamie Dimon told CNBC. Its stock is down 2.2 percent. Dimon also said he expected leaders in Europe to resolve the debt crisis without harm to the bank investments.

Gold rose above $1,800 per ounce for the first time as money poured into investments considered safe at a volatile time for the financial markets. Gold was up $41.70 per ounce to $1,784.90 in afternoon trading after earlier climbing as high as $1,801.

The 10 year Treasury note, which has also served as a haven, also rose sharply. Its yield fell to 2.20 percent from 2.26 percent late Tuesday. It had reached a record low of 2.03 percent on Tuesday. A bond yield falls when its price rises. government debt even after S stripped the United States of its top credit rating, AAA, late last week. markets for the first time, according to Dealogic. That brings the total number of withdrawn initial public offers, or IPOs, to 65 so far this year. That the most through Aug. 10 for any year since 2001.

On Tuesday, the Dow swung 600 points in the final 90 minutes of trading, from a 205 point decline to the 429 point gain, after the Fed announcement, which also said the central bank was considering tools to help the economy. It was the Dow 10th best point gain.

Also on Tuesday the central bank acknowledged that the temporary factors it has said slowed growth like high gas prices and disruption to manufacturers following Japan March earthquake only part of the reason that the economy grew at its slowest pace in the first half of this year since the recession ended in June 2009. Treasury strategy at RBS Securities, wrote in a report.

Concerns about the global economy have overshadowed strong corporate earnings. On Wednesday, the parent of Macy and Bloomingdale said profits were 64 percent higher than a year ago because of strong sales. Quarterly profit was up 52 percent at Polo Ralph Lauren Corp.

Cree Inc., a maker of products used in light emitting diodes, or LEDs, rose 14.9 percent after it reported earnings late Tuesday that were better than analysts expected.

And the Walt Disney Co. said late Tuesday that profit rose 11 percent last quarter. Stronger revenue from its ESPN sports television network and theme parks made up for lackluster box office results. Its stock fell 9.6 percent.
holloway polo shirts Stocks plunge as attention returns to weak economy

polo for baby Stocks fall amid concerns over Iraq

wvu polo Stocks fall amid concerns over Iraq

NEW YORK Stocks slumped in listless trading Monday amid concerns about the upcoming Iraqi election and rising oil prices.

The major indexes closed at their lowest levels of the year.

Market watchers were growing increasingly concerned about January slide in stocks, which some analysts blamed on Wall Street strong fourth quarter performance. A car bomb attack in Baghdad, targeting the prime minister party headquarters, did little to ease the anxiety of investors ahead of Iraq Jan. 30 election. Oil prices declined early in the day, but settled up 28 cents at $48.81 per barrel on the New York Mercantile Exchange.

general, the market is waiting for the elections in Iraq, said Barry Berman, head trader for Robert W. Baird Co. in Milwaukee. oil prices have been on the move up for the past week. Dow Jones industrials seesawed in and out of positive range through much of the day, closing down 24.38, or 0.23 percent, at 10,368.61.

Broader stock indicators also sagged. The Standard Poor 500 index fell 4.12, or 0.35 percent, to 1,163.75. The Nasdaq composite index dropped 25.57, or 1.26 percent, to 2,008.70.

Investors in the tech heavy Nasdaq, which is down 7.66 percent year to date, may have been unsettled when chipmaking giant Infineon Technologies AG warned that second quarter earnings could slow.

The Munich, Germany based company reported that first quarter net profits quadrupled thanks to one time license income.

The Infineon report probably part of the Nasdaq malaise, said John Caldwell, chief investment strategist for McDonald Financial Group, part of Cleveland based KeyCorp.

polo for baby Stocks fall amid concerns over Iraq
he added, the telecommunications sector has also been a problem, with Motorola coming in last week with a cautious outlook and Nokia earnings still awaited.

Overall, Caldwell said, strikes me as one of those days there a lot of activity but not much progress. also continued to eye quarterly earnings results. This week calendar of releases includes 10 of the 30 Dow industrials, along with more than 150 other major companies.

Among Monday gainers, Dow component American Express Co. rose 67 cents to $52.60 after reporting fourth quarter earnings of $896 million, or 71 cents a share a penny ahead of analysts estimates. The financial services company earnings surged 17 percent, thanks to record cardmember spending, higher average cardmember lending balances and strong travel sales.

Microsoft Corp., another Dow component, gained 2 cents to $25.67 after the Redmond, Wash., software company announced in Belgium that it will not appeal an interim European Union ruling forcing it to strip Media Player from its Windows platform.

Procter Gamble Co. fell 44 cents to $55.21 after UBS downgraded the stock to from on its recent price rise. While the 2005 outlook for P remains strong, the Cincinnati consumer products company good health is already factored into its price.

Polo Ralph Lauren Corp. also dropped, shedding 2.7 percent, or $1.08, to $39.03, after Merrill Lynch downgraded it to a from a saying investor expectations might be a bit high. Meanwhile, shares of Liz Claiborne Inc. rose 2.3 percent, or 92 cents, to $40.70, after Merrill raised its rating from a to a International Inc. lost 42 cents to $37.33 after CIBC World Markets downgraded the fast food company to perform from outperform. CIBC upgrade of McDonald Corp. sent its shares up 49 cents to $31.74. CIBC said Wendy faces a more difficult competitive environment in 2005, including greater competition from McDonald in premium products.

Declining shares outnumbered advancers by more than 3 to 2 on the New York Stock Exchange. Preliminary consolidated volume came to 1.89 billion shares,
polo for baby Stocks fall amid concerns over Iraq
compared with 2.04 billion traded Friday.

polo holden boots Starwood Taps Former Coca

ralph lauren polo shirts on sale Starwood Taps Former Coca

Steven Heyer formerly Coca Cola Co. president and COO on Oct. 1 officially became CEO of Starwood Hotels Resorts Worldwide, replacing Barry Sternlicht, who relinquished his CEO responsibilities. Sternlicht, who remains Starwood executive chairman and chief design officer, in October 2003 announced that he intended to step down from the everyday running of the company. Starwood in recent months, for example, acquired the Bliss chain of spas and accelerated the marketing of luxury bedding and related goods through online catalogs and its hotel retail outlets. An earlier example of Sternlicht’s recruiting philosophy was the choice of Ross Klein from Polo/Ralph Lauren to be head of marketing for the W brand. Heyer was on vacation the week leading up to his start date and unavailable for comment. In announcing the appointment, Sternlicht described Heyer’s non hotel background as an asset. “Coming from outside the industry, Steve will look at Starwood, explore new avenues for growth globally and approach our core hotel business with a fresh set of eyes,” Sternlicht said. Prior to Coca Cola, Heyer was president and COO of Turner Broadcasting Systems, which is part of Time Warner, and sat on the parent company’s operating committee. He also has held senior positions at Young Rubicam Advertising Worldwide and managed the marketing practice at Booz Allen Hamilton consultants. JPMorgan Chase analyst Harry Curtis praised Heyer’s background as a strong brand manager. Curtis also was positive about Sternlicht’s continued involvement in the company. UBS Investment Research analyst Will Truelove noted that Heyer was responsible for a change in focus at Coca Cola from volume to profits and margins. Analysts, however, voiced one reservation. In an earlier attempt at decentralization, Starwood in 2001 named Atef Mankarios president of the St. Regis brand and allowed he and his team to work in Dallas. Within two years, Mankarios had left the company and St. Regis/Luxury Collection and Four Points by Sheraton. At the end of the second quarter, the company had 750 hotels around the world.
polo holden boots Starwood Taps Former Coca

water polo goggles Starry Holiday Key to Macy

polo shirts clearance Starry Holiday Key to Macy

is turning to star power this holiday season to fight disappointing sales and resistance to its takeover of local department stores.

Macy’s launched star packed ads featuring celebrities such as Donald Trump and R singer Usher, made changes in merchandise including exclusive alliances with well known designer brands and returned to more promotions at some locations.

The changes are meant to drive traffic and win over shoppers in some markets where the Macy’s name replaced local favorites it absorbed as part of its acquisition of the May Department Stores Co. in 2005.

“They’ve started in the right direction,” Wendy Liebmann, president of WSL Strategic Retail, said. “Now they have to deliver on the new message and the quality of their merchandise.”

Macy’s says its exclusive home furnishings collection by domestic entrepreneur Martha Stewart that debuted in September is off to a good start.

“There will be more Martha Stewart product in the stores for the holiday, and we’re optimistic about it,” Macy’s spokesman Jim Sluzewski said.

“The plan is to draw more customers with exclusive alliances and then sell them their private labels as well,” said Patricia Edwards, managing director and a retail analyst with Wentworth, Hauser and Violich.

Analysts say that while impending holiday sales aren’t a make or break situation, they need to show progress. That may be a tall order in view of a slumping housing market and consumer worries over jobs and tight credit. The National Retail Federation is predicting the slowest growth rate for holiday sales in five years.

Speculation about Macy’s as a takeover target began in June and has resurfaced a few times, with analysts not ruling it out.

“If Christmas is very disappointing and the stock price goes down, then they may become more vulnerable to takeover efforts,” Michael C. Appel, managing director of Quest Turnaround Advisors LLC., said.

The Cincinnati based retailer attributed a 77 percent drop in its second quarter earnings to continuing costs from the $11 billion acquisition of the May Co. in 2005 and lower sales. Macy’s said Thursday that same store sales were down 1.5 percent in October worse than the 0.6 estimate from analysts.

The retailer is slated to report third quarter earnings Wednesday. Analysts surveyed by Thomson Financial are looking for earnings of 8 cents per share, after a loss due to the costs of the May acquisition on the same quarter of last year.

Former May customers haven’t responded as well as hoped to the September 2006 re branding. A year after Marshall Field’s and other May stores officially converted to the Macy’s nameplate, dozens of protesters gathered outside the Chicago store carrying “Macy’s Go Home” signs and urging a shopper boycott.

Marshall Field’s fan Jim McKay, who has led protests, said many shoppers have been dissatisfied.

“The quality of merchandise is less quality but they’re still charging the same prices,” McKay said. “They feel like there’s less service, and less enthusiasm among the staff.”

But one shopper is warming up to Macy’s.

“I think initially, Macy’s had a problem with some of the quality of the clothes,
water polo goggles Starry Holiday Key to Macy
” Rich Lauwers, from the Chicago suburb of Evanston, said. “But they have really stepped up, so I’m coming back.”

Lord Taylor, a division Macy’s sold last year for $1.08 billion to NRDC Equity Partners, said it picked up market share in some cities in the fall of 2006 when Macy’s transformed the former May stores.

Macy’s CEO Terry Lundgren has acknowledged that the rate of some changes should have been slower.

“I think we threw a lot of change on the May company stores very quickly,” Lundgren, also president and chairman, said.

Macy’s has returned to providing more coupons at some former May locations, consistent with last Christmas’ levels, and is fine tuning merchandise assortments.

Macy’s holiday performance will be watched closely this season, even if holiday sales are down throughout the industry, said Dan Hess, chief executive of Merchant Forecast, a New York City based research firm.

“If everyone else is doing poorly, they need to do less poorly,” he said.

Competitors also are increasingly turning to private label brands and exclusive designer lines. Kohl’s Corp. has introduced a successful exclusive line of apparel and home furnishings from designer Vera Wang. Penney’s will offer an exclusive clothing and home accessories line from Polo Ralph Lauren Corp.

Macy’s also is counting on holiday versions of the ads that debuted this fall to lure customers. Celebrities including singer Jessica Simpson and music producer and rapper Sean “Diddy” Combs add their star power and brands, often poking fun at their public images.

“I love the new ads, and I can tell you that everyone who is doing well is focusing on brand, brand image and branded products,” Edwards, the retail analyst, said. “Previously,
water polo goggles Starry Holiday Key to Macy
Macy’s ads were about price. Now they are appealing to people who want Martha Stewart cookware or Usher fragrance.”

polo club apartments austin tx Starbucks to open first cafe in Italy

polo outlet sale Starbucks to open first cafe in Italy

MILAN: US coffee giant Starbucks has announced that it is preparing to conquer the spiritual home of coffee with plans to open its first branch in Italy.

The chain will open a store in Milan in 2017 in a joint venture with Italian retail network Percassi, according to the company. But Starbucks will have a battle on its hands attempting to lure customers in a country which is already flooded with established cafs.

Italian coffee bars serve six billion espressos a year worth 6.6 billion euros ($7.2 billion), while 41 percent of Italian adults drink at an espresso bar at least once a week, according to market analysts OIFB.

After Milan, Starbucks plans to open outposts in Verona and Venice, Starbucks CEO Howard Schultz told Italian newspaper Corriere della Sera.

He said the firm is preparing to invest millions of euros in the country in the coming years as well as creating new jobs.

Schultz visited Italy in 1983 to attend a trade show and claims that the experience was what inspired him to expand the Starbucks brand.

Starbucks will enter Italy with “tremendous humility and great respect for the culture,” he said.

The opening of the first Starbucks cafe in Paris in 2004 caused outrage among coffee purists but the company now has about 100 outlets across France.

Founded in 1971,
polo club apartments austin tx Starbucks to open first cafe in Italy
Starbucks now has more than 23,000 cafs worldwide generating revenues of $19 billion in 2015 alone, up 16.5 percent from 2014.

Executives hope to grow the business by 10 percent this year with the opening of 1,800 new stores.

Starbucks’ business partner for its Italian venture, Percassi, manages the sales networks of several global brands within Italy including Gucci, Polo Ralph Lauren and Nike.
polo club apartments austin tx Starbucks to open first cafe in Italy

new polo boots 2011 Starbucks se lance en Italie

dri fit polos Starbucks se lance en Italie

La cha am Starbucks a annonc lundi son arriv en Italie o elle va ouvrir un premier caf d 2017 Milan, via un partenariat avec le promoteur immobilier Percassi.

L’implantation de la marque am dans ce pays repr un r d car les Italiens vouent un v culte l’expresso qu’ils prennent r au comptoir des multiples bars de la p des chiffres publi par la f Fipe, les bars italiens servent ainsi 6 milliards d’expresso par an, ce qui repr un chiffre d’affaires de 9,8 milliards de dollars. Et d’apr l’Observatoire OIFB, 41% des adultes italiens prennent un expresso au bar au moins une fois par semaine.

de Starbucks est intimement li la fa dont les Italiens r le parfait expresso. Tout ce que nous avons r jusqu’ici s’appuie sur cette fabuleuse exp a d le PDG du groupe, Howard Schultz, cit dans le communiqu avons toujours eu c de respecter cet h depuis 45 ans et c’est avec une grande humilit et un profond respect que nous allons tenter de partager (.) ce que nous avons appris a t il ajout Schultz, qui a acquis Starbucks en 1987 avec d’autres investisseurs, raconte avoir captiv par le savoir faire des Italiens lors d’un voyage d’affaires Milan et V en 1983 et assure s’en inspir pour d sa cha de caf en 1971, Starbucks g d plus de 23 000 caf travers le monde et a g un chiffre d’affaires de 19 milliards de dollars en 2015 (exercice clos fin septembre), en hausse de 17% sur un an.

Pour 2016, il pr une croissance de 10%, avec l’ouverture de 1800 nouveaux magasins.

Apr Milan d 2017, Starbucks pourrait ouvrir d’autres caf V et Venise,
new polo boots 2011 Starbucks se lance en Italie
a expliqu M. Schultz au quotidien Corriere della Sera, en se disant investir des millions d’euros en Italie et de l’emploi groupe italien Percassi, avec qui il a nou un partenariat, g de son c les r de Gucci, Polo Ralph Lauren, Nike, Victoria’s Secret et le groupe Lego.

Par le pass il a aussi collabor avec Benetton pour le d de ses boutiques et a particip l’arriv et la croissance sur le march italien d’Inditex (Zara, Massimo Dutti, Oysho, Pull and Bear, Bershka, Stradivarius) et de Swatch, Calvin Klein, Guess, Tommy Hilfiger et Levi’s.
new polo boots 2011 Starbucks se lance en Italie

volkswagen polo diesel Star Performance to Become Champions At WindStone Golf Club

how to play water polo Star Performance to Become Champions At WindStone Golf Club

Displaying what Lee head baseball coach Mark Brew called “one of the gutsiest responses by a team I have ever had”, the Flames scored four runs in the top of the seventh inning to earn a split against 24th ranked Mississippi College on Friday. “It was back and forth all day (game two) before we got all those big hits in the seventh,” added Brew after the 10 7 victory. The Flames . (click for more)

It took extra innings in both games, but the Covenant softball team picked up a big USA South sweep of Huntingdon on the road on Friday. Covenant scored six runs in the ninth inning of game one to secure an 8 2 victory before rallying past the host Hawks 6 4 in eight innings for a game two win. It was the second and third extra inning games of the week for Covenant (11 11, . (click for more)

Chattanooga Softball Splits In USF Under Armour Invitational

Covenant Men’s Tennis Wins 5 4 Over Roanoke

Covenant Baseball Swept By Piedmont

“Silent Confidence:” Freshman Emerges As Key Basketball Player In Quest For National Championship

United Tax Specialists Business On Brainerd Road Damaged By Electrical Fire Friday Evening

United Tax Specialists on Brainerd Road was damaged by an electrical fire Friday evening. on Friday. Battalion Chief David Thompson Jr. said that six fire companies responded to the scene. Upon arrival, Chief Thompson found moderate smoke in the business. . (click for more)

Judge Keeps Harold Wayne Nichols On Death Row

A judge has ordered that a man convicted of murder in Hamilton County stay on death row. Harold Wayne Nichols, who is now 57, had filed an appeal based on recent court rulings. Afterward, both sides in the case had submitted an agreement that would have allowed Nichols to go off death row, but continue serving a life sentence. However, Judge Don Ash rejected the agreement, . (click for more)

PHOTOS: Chattanooga Businesses Of The Past

Latest Hamilton County Jail Booking Report

Senate Education Committee To Hear Testimony On Gardenhire Bill That Would Require County To Give Assets To Signal If Town Creates Its Own School System

Child Playing With Matches Starts House Fire In OoltewahI have recently returned from a state where outdoor advertising is either limited or banned entirely and I can tell you that it is a pleasure to not be accosted by images of grinning attorneys and hospital advertisements as well as some of the more seedy billboards for “adult” services. As you drive along in these states you slowly realize that your views are unobstructed . (click for more)

Roy Exum: The Saturday Funnies

To start this week’s edition of the Saturday Funnies I want to share a lesson. The trouble is I can’t decide what kind of lesson it is math, civics, American history, psychology, psychiatry law, any of them will do with this one. As I ‘disclaim’ every week, The Saturday Funnies are not written by me. Rather, they are among the emails I get . (click for more)
volkswagen polo diesel Star Performance to Become Champions At WindStone Golf Club

brown polo shirt Star Mackenzie Ziegler Walks Polo Ralph Lauren Runway With Big Sister Maddie PHOTOS

2013 volkswagen polo Star Mackenzie Ziegler Walks Polo Ralph Lauren Runway With Big Sister Maddie PHOTOS

Moms Star Mackenzie Ziegler Walks Polo Ralph Lauren Runway With Big Sister Maddie [PHOTOS]

August 6, 2015 2:49 PM International Business Times

Who says Maddie is the star of the Ziegler family? The Sia music video star young sister and “Dance Moms” co star Mackenzie Ziegler is coming into her own. According to a report from Elle, Mackenzie, 11,stepped into the world of modeling Wednesday night by walking the runway for the Polo Ralph Lauren Fall 2015 Children Fashion Show. The magazine reports the New York City,Central Park Zoo basedevent in was held to benefit literacy. [Read More]

More stories about Ralph Lauren

Controversies pile up for White House, alarming GOP

February 21, 2018 5:51 PM MSN

President Trump’s White House is consumed by controversies on several fronts, putting the administration on the defensive at a time when Republicans are increasingly worried about their electoral prospects. Republicans would be content to spend every day between now and Election Day focused on the GOP’s tax cut bill and the economy. But those efforts are complicated by the sheer volume of controversies the White House is juggling. [Read More]
brown polo shirt Star Mackenzie Ziegler Walks Polo Ralph Lauren Runway With Big Sister Maddie PHOTOS

polos ralph lauren star and Gettysburg College graduate Carson Kressley to speak on campus

polo ralph lauren online outlet star and Gettysburg College graduate Carson Kressley to speak on campus

“Queer Eye” star and Gettysburg College graduate Carson Kressley to speak on campus

GETTYSBURG, Pa. The breakout star of the makeover reality show “Queer Eye for the Straight Guy” and Gettysburg College graduate Carson Kressley will speak at Gettysburg College on Nov. talk will focus on Kressley’s life since Gettysburg College and his overwhelming success in the fashion and entertainment industries. The event will take place in the Ballroom in the College Union Building on West Lincoln Avenue and is open to the public at no charge.

Kressley was launched into stardom in 2003 as the fashion savant on “Queer Eye,” a show that selects one straight man each week to receive a makeover in personal style, culinary skills, beauty techniques, home dcor and culture from a team of gay experts. His career has expanded into advertising, acting and writing, and has received honors from Out magazine, Rolling Stone and Comedy Central. Equestrian Federation, and as associate director of retail advertising and then director of creative development for Polo Ralph Lauren.

Kressley received a bachelor’s degree from Gettysburg College in 1991 after majoring in management. He was elected to Phi Beta Kappa. At Gettysburg College, he was a member of the management club, equestrian team and Alpha Phi Omega. team that took the silver medal in the 1999 World Cup Equestrian Games in Capetown, South Africa. Now living in New York, Kressley is a native of Orefield, Pa. (in the Allentown area). He graduated from Northwestern Lehigh High School in 1987.

Gettysburg College is a highly selective four year residential college of liberal arts and sciences. With approximately 2,500 students, it is located on a 200 acre campus adjacent to Gettysburg National Military Park. The college was founded in 1832.
polos ralph lauren star and Gettysburg College graduate Carson Kressley to speak on campus

marco polo lesson plans Stake In Ralph Lauren’s Empire

uc santa barbara water polo Stake In Ralph Lauren’s Empire

An investment fund managed by Goldman, Sachs Company has purchased a 28 percent stake in the intensely private Polo Ralph Lauren Corporation for $135 million, creating a partnership between two of New York’s trophy institutions.

Goldman is the first outsider to gain a stake in Mr. Lauren’s vaunted retail, apparel and home furnishings empire, which was among the first fashion companies to sell a life style instead of just products.

Mr. Lauren, the master marketer who founded the company and owns 90 percent of the stock, and Peter Strom, Mr. Lauren’s longtime business partner, who owns 10 percent, have kept a firm grip on the company’s ownership until now, and it was clear that the decision to bring in an outside source of funds was not an easy one.

“I have allowed Goldman, Sachs to invest in my company,” Mr. Lauren said in an interview yesterday in his office on Madison Avenue, which could serve as a set for many of his company’s ads, with its dark paneling, overstuffed furniture and antique rugs.

The bulk of the company’s profits come from royalties on its extremely lucrative licensing agreements, which lend the Ralph Lauren name to manufacturers of eyewear, fragrance, furniture and a range of apparel. Polo Ralph Lauren only manufactures its men’s sportswear, coats and furnishing lines; all other Ralph Lauren products, ranging from towels and sheets to shoes and sunglasses, are manufactured by others under license.

Goldman’s stake represents an investment in some of the royalty revenue but not all of it, so the value of the company may be somewhat higher than the purchase price indicates. “They won’t have all of my royalties,” Mr. Lauren said yesterday.

He said he had agreed to the investment because he needed money to finance his company’s growth. Many entrepreneurial apparel companies find it difficult to support growth without bringing in additional capital, and it is a testament to Mr. Lauren and Mr. Strom that Polo Ralph Lauren has been able to grow so large without a capital infusion. Mr. Lauren said that about $3.9 billion worth of his products would be sold during the fiscal year that ends March 31.

“I was faced with something of a dilemma,” he said. “How could I stay private, which is what I preferred, and yet how could I still go forward with all the things I still want to do with this company?” Plans for Expansion

Although Mr. Lauren said he had no “master plan” for using the money from Goldman, he said he envisioned spending more on advertising and marketing, building new concepts and expanding the retail portion of the company’s business, which requires extensive capital investment. He has decided, for example, to extend Ralph,
marco polo lesson plans Stake In Ralph Lauren's Empire
a younger, hipper apparel line he introduced this spring, to sheets, towels and other home related products.

He said he also wanted to expand Polo Sport, a sleek new store the company opened on Madison Avenue last fall, sell a new line of sports apparel and extend the company’s reach abroad, particularly in China.

His vision is what Goldman is banking on. “What we see in this is Ralph and his ability to create and build businesses, rather than buying other people’s businesses in order to grow,” said Richard A.

Newsletter Sign Up

Continue reading the main story

Mr. Lauren made it clear that while he welcomed the investment bank’s financial expertise, he would continue to have the final say on all decisions. “I am running my business,” he said.

Even though rumors that Goldman was working on ways to raise new financing for Polo Ralph Lauren had been buzzing for months, the partnership announced yesterday took Seventh Avenue and Wall Street by surprise. Many people in the garment industry have speculated that Mr. Strom wants to retire and that the company needs financing to buy out his 10 percent stake.

Mr. Lauren said yesterday that the partnership with Goldman had nothing to do with Mr. Strom’s future plans, which are not set.

Wall Street has tended to spurn investments in fashion apparel businesses because they rely so much on the whims and fancies of consumers. Both Calvin Klein and Donna Karan, two other big American designers, have tried and failed to raise money either through a debt offering or an offering of stock.

“The most interesting aspect is that Ralph is taking on a partner, which has to be a precursor to taking the company public, because Goldman doesn’t make that kind of investment without having a way out,” said Peter J. Solomon, an investment banker who has many retail and apparel clients.

At numerous times during the interview yesterday, Mr. Lauren’s aversion to selling his company to the public, with the intense regulatory and financial scrutiny such a move entails, was apparent. “I’m a private company, and I like my own privacy,” he said.

A spokesman for Goldman said the investment bank had no preplanned exit strategy for its investment. But people on Wall Street said it was impossible to believe that Goldman, one of the savviest and most profitable investment banks, would not have a plan for getting its money back. The company typically aims for a 35 percent rate of return on its merchant banking investments.

Some analysts suggest that the reason Goldman did not propose a public stock offering was because Polo Ralph Lauren’s growth has slowed over the last several years. Retailers say that Nautica and Tommy Hilfiger have knocked off Polo’s prep school look, but at lower prices, and that the company’s new concepts, like the RRL line of rugged jeans, flannel shirts and scuffed leather that mimic Mr. Lauren’s personal style, have not taken off as rapidly as expected.

Nonetheless, the sheer number of new ideas coming out of Mr. Lauren’s head at a time when the fashion industry seems to be satisfied with endlessly regurgitating old looks gives him an edge. In the last year alone, he has started RRL, Polo Sport,
marco polo lesson plans Stake In Ralph Lauren's Empire
a line of Polo Sport skin treatments and the Ralph label.