Ralph Lauren draws down 475 million dollars from credit line

Ralph Lauren Corporation has taken additional pre-emptive actions to preserve cash and strengthen its liquidity while navigating the evolving global pandemic. The company said in a statement that measures include managing its expense structure across all key areas of spend, reducing or delaying capital expenditures and aligning inventories to anticipated demand; drawing down 475 million dollars from the company’s Global Credit Facility to bolster cash balances; halting any incremental share repurchases during the Covid-19 crisis, and pausing all non-critical capital build-out and reviewing all real estate projects.