Polo Ralph Lauren's Profit Climbs 4.4 Percent on Retail Sales

TBO ^ | 11/5/03

[Tumbleweed_Connection]

NEW YORK (Dow Jones/AP) - Polo Ralph Lauren Corp. on Wednesday said profit for its latest quarter edged up 4.4 percent, helped by a 13 percent increase in retail sales. For the second quarter ended Sept. 27, the upscale apparel designer and retailer had net income of $54 million, or 54 cents a share, compared with $51.7 million, or 52 cents a share, a year earlier.

The latest quarter included a gain of $1.8 million on favorable foreign exchange rates.

Excluding that item, the company earned $52.9 million, or 52 cents a share. Analysts surveyed by Thomson First Call had expected earnings excluding items of 51 cents a share.

Increases in retail sales and international licensing royalties pushed net revenue up 10 percent to $707.8 million from $640.8 million.

Polo Ralph Lauren said it expects adjusted earnings of 44 cents to 49 cents a share in the third quarter, and 75 cents to 80 cents a share in the fourth quarter.

Analysts are calling for earnings, excluding items, of 45 cents a share for the third quarter and 80 cents a share for the fourth quarter.

In morning trading, shares of Polo Ralph Lauren rose 98 cents, or 3.3 percent, to $31.03 on the New York Stock Exchange.

[sarasota]

This guy is a class act and an American designer of classics.

[Cicero]

I've never seen a piece of Polo Ralph Lauren clothing that wasn't admirably and tastefully designed. He has infallible instincts for doing the right thing. My male ancestors, now dead, would definitely approve of his stuff.

[kellynla]

Is Polo still made in USA?

[sarasota]

I think some of it is but I've seen labels that speak to other countries.

[kellynla]

I know I have some Polo shirts that I purchased twenty years ago that are still in very good shape...Made in USA.