NEW YORK — Polo Ralph Lauren Corp. more than doubled its third-quarter profits on robust sales.
Net income jumped to $74.8 million, or 72 cents a diluted share, from $35.4 million, or 35 cents, in the previous year. Earnings per share results matched analysts’ consensus estimates.
Sales for the quarter rose 38 percent to $888 million. The firm’s wholesale business jumped 95 percent to $427.4 million, and was bolstered by the company’s Lauren line.
Retail same-store sales had a gain of 6.1 percent, the company said, adding that its operating profit showed an increase of 90 percent.
Ralph Lauren, chairman and chief executive officer, said in a statement that quarterly results “show we continually re-ignite our brands with new products and new markets. We expect to produce another record year next year and we are positioned for continuous growth beyond that.”