Ralph Lauren Halves Profit on Hefty Charges

Polo Ralph Lauren(RL Quote) more than halved its profit in the fourth quarter, weighed down by hefty charges.

Still, excluding restructuring costs and an impairment charge associated with store-related assets, the high-end apparel maker actually far surpassed analysts' expectations, sending shares climbing 8% in morning trading.

During the quarter, the company's profit plunged to $45 million, or 44 cents a share, from $104 million, or $1 a share, in the year-earlier quarter. ...