During fiscal Q2 2010, ended Sep. 26, 2009, RL's net income rose 10% to $178 million, or $1.75/share, compared to $161 million from a year earlier. Revenues declined 4% to $1.37 billion. Analysts originally expected $1.32/share for the quarter. The company attributes the higher earnings from gains in market share earlier in the year as well as high-growth international market and online revneues.
RL announced a quarterly cash dividend of $0.10/share of common stock, an increase from $0.05/share from last quarter. The company also added $225 million to its stock repurchase plan.
RL announces quarterly dividend of $0.05 per share, payable on April 10, 2009.
2nd quarter fiscal profit increased by 40%, which is unusual for a retail company given the current state of the economy. International and outlet sales helped make up for lagging U.S. sales. However, the company has decreased its full-year sales outlook to a low single digit increase from a low-to-mid single digit increase, meaning the company expects flagging sales in the United States luxury market to continue to be a big influence on its balance sheet.
Polo Ralph Lauren announced that it will launch a mobile commerce (m-commerce) site so that customers can shop for Polo merchandise from their cell phones.
Polo Ralph Lauren reported a 4% increase in total revenue to $1.11 billion during the first quarter of fiscal 2009. Net income rose 7.8% for net earnings per share of $0.93, while analysts had been expecting $0.72.
Polo Ralph Lauren reported fourth quarter and full year performance for fiscal 2008 on May 28, 2008. The company reported a 41% increase in quarterly net income for $1.00 earnings per share for the quarter, while analysts had been expecting EPS of $0.65.
RL post quarterly earnings of 82 cents per share vs. ananlysts' estimates of 85 cents. The company blamed the miss on a higher tax rate.
Levi's files a lawsuit against Polo claiming the sportswear company copied its trademark stitching.
