At the end of its second quarter, Polo Ralph Lauren Reports Net Earnings up 10%, finally exceeding the forecasts of the first half.
With 178 million in quarterly net profit, bringing the group’s title at $ 1.75, the band leaves behind the figures of the second quarter of 2008/2009. This had generated some $ 161 million, or $ 1.58 per share. Meanwhile, turnover for its part undergoes a drop of 4%, reaching $ 1.4 billion. A figure that the mark attributed to unfavorable exchange rates, declining attendance of its own boutiques, and a drop in sales overseas.
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“Today, these results confirm the strength and vitality of our strategy and demonstrate the superb work of our management team,” said Ralph Lauren.
“We continue to invest in design and marketing, and we emphasize our presence around the world, which helps support the market challenges. We work to date as a lean organization and stronger than ever, while our growth prospects remain compelling long term. “
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