NEW YORK — Polo Ralph Lauren on Tuesday reported quarterly income jumped 58 percent and revenues increased 26.8.
For the period ended July 1, income was $80.2 million, or 74 cents a diluted share, compared with $50.7 million, or 48 cents, in the same year-ago quarter. Revenues rose to $953.6 million from $751.9 million, which included a 45.7 percent boost in wholesale sales to $491.2 million and a 15.3 percent gain in retail sales to $412.1 million.
“We are extremely pleased by the continuing demand for our brand and its worldwide growth as evidenced by these strong results,’’ Ralph Lauren, chairman and chief executive officer, said in a statement. ``One of the keys to our success is that we convey our passion and our clear point of view in all we do. That vision is represented in all of our brands and in every product category, whether it is menswear, womenswear, childrenswear, accessories or home.”
For the year, the company is projecting earnings per share of $3.25 to $3.35.
For complete coverage, see tomorrow’s issue of WWD.
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