Ralph Lauren Dressed for Success in 3Q

Stock quotes in this article: RL  

NEW YORK (TheStreet) -- Polo Ralph Lauren(RL Quote) reported a 10% jump in second-quarter profit on Tuesday, boosted by cost cuts and leaner inventory.

During the quarter, the company earned $177.5 million, or $1.75 a share, compared with $161 million, or $1.58, in the year-ago period. Analysts expected the company to earn $1.31 a share.

But revenue still slipped 4% to $1.37 billion from $1.43 billion.

"Our results have exceeded our expectations for the first half of the year, reflecting market-share gains across products and regions and disciplined operational management," Roger Farah, president and chief operating officer, said in a statement.

Looking ahead, the company expects full-year revenue to decline by mid-single-digits, better than its prior guidance of a high-single digit drop. But management said it remains cautious for the remainder of the year.

-- Reported by Jeanine Poggi in New York

Follow TheStreet.com on Twitter and become a fan on Facebook.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
0.48
10 Yr
3.23%
SPDR Gold
115.06
-1.48%
-1.72%
-1.73%
-1.46%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services