Polo Ralph Lauren

(RL) - Get Report

beat fiscal second-quarter targets and raised guidance.

The New York-based apparel giant also set plans to acquire a belts and small leather goods license.

For the quarter ended Sept. 30, Polo made $137 million, or $1.28 a share, up from the year-ago $104 million, or 97 cents a share.

Revenue rose to $1.17 billion from $1.03 billion a year earlier.

Analysts surveyed by Thomson Financial were looking for a $1.06-a-share profit on sales of $1.16 billion.

Excluding the Polo Jeans acquisition, latest-quarter sales rose 9%.

Polo said it agreed to buy

Kellwood's

(KWD)

New Campaign business, Polo Ralph Lauren's licensing partner for the manufacturing and distribution of men's and women's belts and other small leather goods under the Ralph Lauren, Lauren and Chaps lines in the U.S.

The price is $9 million.

The company raised its full-year guidance to $3.50 to $3.60 a share from the previous $3.25 to $3.35.