Ralph Lauren's stock fell 18 percent, touching a more than five year-low of $94.02. Kohl's said it discounted heavily in the quarter, hurting margins, as it worked to clear inventories, after a slow start to the winter season led people to spend less on sweaters, gloves and coats. Ralph Lauren said it would aggressively try to clear inventories in the March quarter.
Read more:
Weak sales at Kohl’s, Ralph Lauren spark selloff in retailers