Polo Ralph Lauren Raises Guidance

Clothing designer Polo Ralph Lauren ( RL) raised its guidance for the fiscal first quarter, saying demand has been strong worldwide and pricing has been solid.

Shares were jumping following the forecast, lately rising by $3.61, or 7.5%, to $51.51.

Based on preliminary quarterly results, the company expects consolidated revenue growth to be in the mid-20% range compared with the same period last year. Operating margins should be 200 to 300 basis points higher than the comparable quarter a year ago.

Previously, the company had indicated that revenue would grow at a high teen to low-20% pace and that operating margins would be slightly lower than last year's first quarter.

On average, analysts surveyed by Thomson Financial are looking for a first-quarter profit of 50 cents a share and revenue of $896.6 million.

Polo Ralph Lauren plans to address its full-year guidance on Aug. 8 when it releases its first-quarter results.

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