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.
Levi's files a lawsuit against Polo claiming the sportswear company copied its trademark stitching.
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.
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