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Polo Ralph Lauren in Q2 profit climb

Profits at Polo Ralph Lauren were boosted over the first six-months of the year, helped by lower operating expenses and increased market share.

Profits at the business, which operates the Polo and Ralph Lauren brands, grew to $178m (£107m) against $161m (£97.5m) the year before, while second quarter sales at Polo Ralph Lauren were $1.4bn (£847m) over the period, 4% lower than the same period last year.

Sales were hit as domestic wholesale sales slipped and unfavourable currency rates impacted performance.

Total wholesale sales were down 4% to $815m (£494m) over the period.

Polo Ralph Lauren said the business is the leanest it has ever been, and that increased market share over the period had exceed expectations, prompting management to raise sales forecasts for the remainder of the fiscal year.

“We will continue to invest in high growth international markets and new exciting product categories, both critical components of our long-term strategic objectives,” said Polo Ralph Lauren president and chief operating officer Roger Farah.

 

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