The announcement that the Ralph Lauren (RL) Stefan Larsson is leaving the company is good news as far as I am concerned. This creates a potentially tremendous buying opportunity. Can you say multi year low.
One of my friends used to be at RL and left years ago but keeps up with the company. Apparently, Larsson rubbed lots of people wrong. This friend in December told me that Larsson needed to go. Great call.
In fact, Larsson fired lots of people since coming in and was an arrogant fuck. Ralph Lauren who remains the Executive Chairman wanted to fire him a long time ago.
However, Lauren was afraid the board would not go along. Looks like he got over it. The stock hit a low on the weekly chart of $82.15 in February of last year. This is down from a peak of $185.
I may add this to my recommended positions, currently QCOM long and SAVE short. Let’s see how it trades today. This could be a great stock to buy and add a put to limit the downside risk.
P.S. For the record, I am long this name in our Morning Matters Stock Portfolio.
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Wow, retail related stuff is getting btfo