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By
Reuters
Published
Feb 8, 2012
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Ralph Lauren sales, profit beat, shares up

By
Reuters
Published
Feb 8, 2012

Ralph Lauren Corp (RL.N) reported on Wednesday better than expected holiday quarter results, helped by more business with department stores and growth at its own stores.

Shares rose more than 5 percent in premarket trading.


Image : Ralph Lauren

The clothing maker, whose brands include Polo, Club Monaco and Chaps, said revenue rose 17.2 percent over its third quarter ended December 31, to $1.81 billion, above analysts forecasts of $1.75 billion, according to Thomson Reuters I/B/E/S.

Ralph Lauren now expects sales in the fiscal year ending next month to be up 20 percent, compared with a prior forecast of a rise in the high teens or low 20-percent range.

Despite the rising sales, its net income rose only 0.4 percent to $169 million, or $1.78 per share, hurt by higher product costs. But that was enough to beat Wall Street expectations of $1.67 per share.

Gross margin continued to be under pressure, falling 1.5 points to 57.1 percent of sales.

Shares were up 5.2 percent to $165.26 in premarket trading.

(Reporting By Phil Wahba in New York; Editing by Gerald E. McCormick)

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