Domestic sales gains in Lauren & Chaps brand at Polo Ralph
12 Feb '07
3 min read
Polo Ralph Lauren Corporation reported net income of $111 million, or $1.03 per diluted share, for the third quarter of Fiscal 2007, compared to net income of $91 million, or $0.84 per diluted share, for the third quarter of Fiscal 2006, an approximate 22% increase in net income and a 23% increase in earnings per share.
Net revenues for the third quarter increased 15% to $1.14 billion, compared to $996 million in the third quarter last year. Excluding the impact of the Polo Jeans acquisition, net revenues increased 10%. Operating income increased 28% to $184 million, compared to $144 million last year. Operating income as a percent of revenue improved 170 basis points to 16.1%, from 14.4% last year, reflecting both expanded gross profit rates and expense leverage.
Net revenues for the first nine months increased 18% to $3.26 billion, compared to $2.77 billion last year. Excluding the impact of the Polo Jeans and footwear acquisitions, net revenues increased 12%.
Operating income for the first nine months increased 33% to $533 million, compared to $401 million in the same period last year. Operating income as a percent of revenue improved 190 basis points to 16.3%, from 14.4% in the same period last year.
For the first nine months of Fiscal 2007, net income was $328 million, or $3.04 per diluted share, compared to net income of $246 million, or $2.30 per diluted share for the comparable period last year, a 33% increase in net income and a 32% increase in earnings per share.
marketing@alchempro.com
