NEW YORK — Polo Ralph Lauren Corp.’s income nearly doubled in the fourth quarter ended April 1, thanks to a hefty charge in the year-ago period. But profits still beat Wall Street estimates by a penny.
For the three-month period, income was $62.5 million, or 58 cents a share, up from $23.4 million, or 22 cents, in the year-ago quarter. The company beat Wall Street’s consensus estimate of 57 cents a share. The year-ago quarter included a charge to settle litigation with Jones Apparel Group. Excluding the charge, income in the year-ago quarter would have been $86 million.
Total revenues in the quarter rose 7.7 percent, to $971.6 million from $902.2 million, which included a 5.7 percent gain in wholesale sales to $573.8 million and a 14.9 percent increase in retail sales to $334.9 million. The increase in wholesale volume came primarily from the inclusion of Polo Jeans and footwear, the launch of Chaps for women and boys, and increased sales in Lauren and the company’s full-price men’s wear business. At retail, total company same-store sales rose 3 percent, reflecting an increase of 1.2 percent at Ralph Lauren stores, 10.6 percent rise at Club Monaco stores and 2.8 percent in factory stores. Revenues at Polo.com rose 73 percent. The balance in total revenues was from licensing income.
For the year, income jumped 61.8 percent to $308 million, or $2.87 a diluted share, from $190.4 million, or $1.83, a year ago. Total revenues rose 13.3 percent to $3.75 billion from $3.31 billion. The company affirmed its previous earnings per share forecst of $3 to $3.10 for fiscal year 2007.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye