By  on November 5, 2008

If the luxury customer has pulled back on spending, it wasn’t obvious at Polo Ralph Lauren Corp., which on Wednesday posted a second-quarter profit gain of 39.6 percent, beating analysts’ estimates by 33 cents.

Polo said income for the quarter ended Sept. 27 rose to $161 million, or $1.58 a diluted share, from $115.3 million, or $1.09, in the same year-ago period. The quarter’s results were boosted by an increase in sales at the company’s off-price factory stores and higher European wholesale sales. Total revenues gained 10 percent to $1.43 billion from $1.3 billion. Revenues include a 9.6 percent increase in wholesale sales to $846.2 million and an 11.9 percent gain in retail sales.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus