ralph lauren\'s 4q profit rises 35 pct
On Thursday, February
14,2013, archive photo, Ralph Lauren Fall 2013 series was modeled during New York Fashion Week.
Report quarterly financial results prior to market opening on Thursday, May 23, 2013. (
AP Photo/Richard Drew (file)NEW YORK (AP)--
The report grew 35% for the fourth time.
Luxury retailers benefited from lower cotton prices and cost controls, achieving quarterly profits.
But sellers of Polo and other brands fell on Thursday as its revenue fell below Wall Street\'s expectations in bad weather, economic challenges in the United StatesS.
And the removal of some companies focused on the most profitable enterprises.
Results released on Thursday showed that the New York-based luxury company has seen rising profits since the first half of the fiscal year, as cotton costs soared, the company bears the brunt of the cost of canceling certain businesses such as the rugby brand.
But it is still struggling with the global economic turmoil. \"Our better-than-
The expected profitability for the fourth quarter and full year 2013 is a direct result of our global team\'s strong operations management, \"said Roger Farah, president and chief operating officer, in a statement.
Strengthen the flow of profits
Despite continued macroeconomic challenges and strategic decisions that have slowed revenue growth this year, this has been achieved. \"The New York-
The company\'s net income was $127.
2 million, or $1.
For the three months ended March 30, $37 per share.
By contrast, $94.
$4 million a year ago.
Revenue grew slightly. Between $ 2% and $1. 64 billion.
Excluding the elimination of the strategic impact of some operations and the impact of adverse foreign currency exchange, revenue increased by 5% per cent.
Analysts had expected earnings of $1.
Earnings of $31 per share. 7 billion.
Ralph Lauren said sales in its wholesale sector fell 4% to $0. 796 billion compared with last yearago period.
This is mainly due to the suspension of sales of American life brands sold in J. C.
Penney stores and plans to reduce shipments to certain European customers.
Ralph Lauren\'s own store sales rose 7% from $0. 804 billion last year to $0. 752 billion.
The company expects sales to increase.
The company expects revenue to grow at a lower level
The percentage of figures for the quarter, from 4% to 7% for the whole year.
As of this quarter, the company has 388 direct stores
There are 116 Ralph Lauren stores, 50 Monaco club stores and 213 polo Polo polo stores.
By the end of the quarter, the company had also operated 494 licensed stores worldwide.
Except for the company-
At the end of the fourth quarter, international authorized partners operated 62 Ralph Lauren stores and 32 dedicated stores, as well as 64 Monaco club stores and stores. Shares fell 2.
3%, or $4.
At $37 a share, it closed at $183. 69 Thursday.