By
Reuters
Reuters
Published
May 19, 2010
May 19, 2010
Polo Ralph Lauren profit more than doubles
By
Reuters
Reuters
Published
May 19, 2010
May 19, 2010
(Reuters) - Polo Ralph Lauren Corp (RL.N) reported a quarterly profit on Wednesday 19 May that more than doubled, as strong sales at its retail stores helped offset a decline in wholesale revenue.
Polo Ralph Lauren |
The fashion company, home to brands like Polo, Club Monaco and Chaps, said net income was $114.1 million, or $1.13 per share, for its fiscal fourth quarter ended April 3, up from $44.5 million, or 44 cents per share, a year earlier.
Net sales were $1.29 billion in the quarter, up from $1.18 billion a year earlier.
The company said it expects consolidated revenue to rise at a low double-digit rate in the current first quarter of fiscal 2011, and to rise at a mid-single-digit rate for the full year.
(Reporting by Martinne Geller, editing by Gerald E. McCormick)
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