Business News
Polo Beats Estimates
TSC Staff
05/30/07 - 07:52 AM EDT
Polo Ralph Lauren (RL Quote) beat fourth-quarter earnings targets and said recent acquisition costs will cut 2008 earnings by 27 cents a share.
The New York-based apparel retailer made $73 million, or 68 cents a share, for the quarter ended March 31, up from the year-ago $63 million, or 58 cents a share. Revenue rose to $1.03 billion from $972 million a year earlier.
Analysts surveyed by Thomson Financial were looking for a 62-cent profit on sales of $1.03 billion.
The company says it expects to make $3.70 to $3.80 a share for 2008, including a 27-cent-a-share hit on recent acquisitions. Analysts were looking for $4.13, excluding the acquisition costs.