By  on August 7, 2013

NEW YORK — Shares of Ralph Lauren Corp. fell nearly 8.6 percent Wednesday after the company posted a first-quarter decline in profits.

Shares closed at $173.13 in Big Board trading on Wednesday. While the results generally were in line with Wall Street estimates, the fashion firm typically posts results that beat estimates by a healthy margin. In the current quarter, higher operating expenses due to overall business expansion, required infrastructure investment and the integration of the Chaps men’s sportswear operations hurt the bottom line.

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