Polo Ralph Lauren 4Q Profit Falls On Charges

Same-store sales slid 15.9 percent in the quarter. At its Ralph Lauren stores, same-store sales sagged 29.3 percent. Same-store factory store sales fell 8.8 percent, while Club Monaco stores reported a 20.8 percent same-store sales decline.

For the year, earnings fell 3 percent to $406 million, or $4.01 per share, from $419.8 million, or $3.99 per share, in the previous year. Adjusted earnings were $4.50 per share. The per-share discrepancy is due to fewer shares outstanding in the current year.

Annual sales grew 3 percent to $5.02 billion from $4.88 billion.

Polo Ralph Lauren anticipates a high single digit sales decline in fiscal 2010. Analysts expect full-year sales of $4.68 billion.

Shares rose $3.31, or 6 percent, to $57.69 in morning trading.