Polo Ralph Lauren
reported a rise in second-quarter profit, and reiterated its quarterly earnings guidance.
The company earned $51.7 million, or 53 cents a basic share, compared with $47.8 million, or 49 cents a basic share, the year before.
Polo said customers are responding positively to its luxury women's collection and men's Purple Label collection, as well as accessories.
Revenue was $640.8 million, compared with $656.4 million in the year-ago period.
The company expects to earn 45 cents to 50 cents a share in the third quarter, and analysts expect earnings of 47 cents a share. The company's fourth-quarter EPS expectation is 75 cents to 80 cents, with analysts expecting 77 cents.
Full-year 2003 earnings are expected to be $1.80 to $1.90 a share; analysts expect $1.83 a share.
Shares of New York-based Polo closed at $19.01 Tuesday on the
New York Stock Exchange