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.
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