Polo Ralph Lauren Corp (RL)
A prepster just isn't a prepster without a Polo-insignia on his shirt. Polo Ralph Lauren Corporation designs and distributes their high quality brand of clothing, accessories, fragrances and home products through department stores, their own retail stores, and online at their website. Its hundreds of world-wide retail stores bring the style of moneyed Hamptons trust-fund babies to shoppers everywhere.
Polo Ralph Lauren 3Q profit rises
NEW YORK (AP) - Polo Ralph Lauren Corp. fiscal third-quarter profit rose nearly 6 percent as stronger retail sales helped offset a decline in wholesale revenue.
But shares fell in premarket trading as the company said its Asia Pacific operations would hurt profit in the fourth quarter.
Profit for the three months ended Dec. 26 rose to $111.1 million, or $1.10 per share, from $105.3 million, or $1.05 per share last year.
Revenue edged down less than 1 percent to $1.24 billion from $1.25 billion last year.
Analysts surveyed by Thomson Reuters, on average, predicted a profit of $1.01 per share on revenue of $1.26 billion.
The company, which makes Polo, Ralph Lauren and Club Monaco clothing and is based in New York, is seeking to grow its footwear and accessories businesses and recently assumed direct control over its Asian operations to try to expand there.
Wholesale sales fell 8 percent to $604 million while retail sales rose 8 percent to $592 million.
The company now expects full-year revenue to decline at a low-single digit percentage rate, compared to earlier guidance of a mid-single digit decline.
The company said profit will be hurt by 8 cents to 10 cents per share in the fourth quarter due to expenses related to its new Asia Pacific operations.
Shares fell $5.47, or 6.4 percent in premarket trading, to $80.20.
Events
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September122010Certain shares of Polo Ralph Lauren Corp.'s Class A Common Stock are subject to a Lock-Up Agreement Ending on 12-SEP-2010.
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November 32010Polo Ralph Lauren Corp. expected to report Q2 2011 results on November 3, 2010. This event was calculated by Capital IQ (Created on August 5, 2010).
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April302011Rockland Minerals Corp. expected to report Fiscal Year 2010 results on April 30, 2011. This event was calculated by Capital IQ (Created on June 27, 2010).
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May252011Polo Ralph Lauren Corp. expected to report Fiscal Year 2011 results on May 25, 2011. This event was calculated by Capital IQ (Created on August 8, 2010).
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Today's gain: $1.07 (1.40%)
