By  on August 5, 2009

Shares of Polo Ralph Lauren jumped more than 7 percent Wednesday after the company posted lower first-quarter results that still managed to easily beat Wall Street estimates.

Net income for the three months ended June 27 fell 19.3 percent to $76.8 million, or 76 cents a diluted share, from $95.2 million, or 93 cents, in last year’s comparable quarter. The consensus among analysts was for earnings per share of 50 cents, according to Yahoo Finance.

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