NEW YORK — Polo Ralph Lauren Corp. on Wednesday posted third-quarter results in which net income climbed 21.8 percent, boosted by an 18 percent jump in wholesale sales and a 12.8 percent gain in retail sales.
For the three months ended Dec. 30, income was $110.5 million, or $1.03 a diluted share, versus $90.7 million, or 84 cents, in the same year ago quarter. Total revenues rose 14.9 percent to $1.14 billion from $995.5 million last year.
“I am exhilarated by the continued success of our company and the positive responses to our overall strategy and direction,” said Ralph Lauren, chairman and chief executive officer, in a statement.
On a conference call with investors this morning, Roger Farah, president and chief operating officer, said, “Our performance year-to-date is outstanding as we delivered an 18 percent sales growth with 33 percent increase in operating income while continuing to support growth initiatives for the future in luxury accessories, specialty retail and in denim. The range of our accomplishments have been dramatic. Throughout the third quarter and the first 9 months we continued to develop new products, elevate the merchandising and presentation of our luxury brands both in new retail stores and expand our brand internationally. All are in line with our long-term strategy and we have achieved this with very high returns on our investments and pristine balance sheet.”
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