Ralph Lauren report to address shareholder issue

AP News
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Posted: May 28, 2013 1:23 PM

ALBANY, N.Y. (AP) — New York Comptroller Thomas DiNapoli has withdrawn a shareholder resolution at Ralph Lauren Corp. after the global retailer promised to issue a report next year related to social and environmental issues.

The Manhattan-based company said Tuesday it will post the report on its website when filing its next annual report in May 2014.

DiNapoli is the sole trustee of New York's $160 billion pension fund for state and local government workers. He has asked several companies the pension invests in to issue such reports, saying the analysis limits shareholder risk.

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A May 8 letter from company officials requesting the resolution's withdrawal says Ralph Lauren will report to shareholders the review of its "policies, practices and metrics related to long-term social and environmental sustainability."