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Reuters
Published
Aug 10, 2011
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Polo profit surges, sees more sales gains in Q2

By
Reuters
Published
Aug 10, 2011

August 10 - Polo Ralph Lauren Corp posted sharply higher quarterly profit on Wednesday on strong sales at its own stores and to retailers, while margins increased despite rising cotton costs.


Style Circuit collection by Ralph Lauren, inspired by Formula 1 racing

The clothing maker, whose brands include Polo, Club Monaco and Chaps, said net income rose to $184.1 million, or $1.90 a share, in the first quarter ended July 2, from $120.8 million, or $1.21 a share, a year earlier.

Net sales rose 34 percent to $1.49 billion, beating the average analyst estimate of $1.43 billion, according to Thomson Reuters I/B/E/S.

Polo forecast revenue to rise at a high-teens to low-20 percent range in the current quarter and a mid-to-high teens percentage rate for the full year, compared with a previous full-year forecast for a rise at mid-teens percentage.

Polo shares rose 9 percent to $131.90 in premarket trading.

(Reporting by Phil Wahba and Brad Dorfman, editing by Gerald E. McCormick)

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