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Polo Ralph Lauren plans international expansion

Polo Ralph Lauren is plotting international expansion on the back of a 24% year-on-year growth in profits to $789m (£549m).

Posting its results for the three months to April 3, the business, which operates the Polo and Ralph Lauren brands, said the rise was due to improved wholesale and retail segment margins and an improved product mix across all its channels.

Revenues for the fourth quarter grew 9% to $1.3bn (£904m), up from $1.2bn (£835m) for the fourth quarter of 2009.

Total wholesale sales fell 3% to $736m (£512m), compared to $756m (£526m) in the fourth quarter of 2010 while retail sales increased 31% to $554m (£386m).

Polo Ralph Lauren’s president and chief operating officer Roger Farah said: “Our fourth quarter and full-year results exceeded our expectations on virtually all operating metrics. The resilient sales and strong profit performance are the direct result of years of consistent reinvestment in our business and intensely disciplined operational management.”

He added: “After generating more than $900m (£626.6m) in cash from operating activities last year, and with more than $1.2bn (£835m) in cash and investments on our balance sheet, we are planning an aggressive acceleration of our investment in our growth initiatives during fiscal 2011, particularly in international markets and with our direct to consumer efforts.”

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