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Ralph Lauren's 4Q profit rises 35 pct

Ralph Lauren's 4Q profit rises 35 pct

Ralph Lauren Corp. is reporting a 35 percent increase in fourth-quarter profit, but economic challenges here and abroad and certain strategic initiatives cut into sales.
The New York-based company is reporting net income of $127.2 million, or $1.37 per share, for the three months that ended March 30. That compares with $94.4 million, or 99 cents per share, a year earlier.
Revenue rose a slim 1.2 percent to $1.64 billion.
Analysts had expected earnings of $1.31 per share on revenue of $1.7 billion.
The company expects revenue to be up in the low single digits for the current quarter and anywhere from 4 percent to 7 percent for the full year.
Shares fell nearly 4 percent, or $7.06, to $181 in premarket trading.


Updated : 2021-02-28 12:25 GMT+08:00