Polo Ralph Lauren Corporation reported net income of $73 million, or $0.68 per diluted share, for the fourth quarter of Fiscal 2007, compared to net income of $63 million, or $0.58 per diluted share, for the fourth quarter of Fiscal 2006, a 17% increase in both net income and earnings per share.
For the fiscal year, net income grew to $401 million, or $3.73 per diluted share, compared to net income of $308 million or $2.87 per diluted share for Fiscal Year 2006, a 30% increase in both.
"This has been a tremendous year with our sales and profits growing at record rates. And the year was one of expansion and innovation. We have made significant progress on all fronts from opening new luxury stores to initiating steps to expand our accessories business in new categories such as watches and fine jewelry, to taking direct control of our Japanese business and our internet business."
"We are creating new businesses with Global Brand Concepts and its first initiative, American Living, which will be a completely new lifestyle brand for men, women, and children," said Ralph Lauren, Chairman and Chief Executive Officer.
"I started this business 40 years ago with a tie and a vision about how people live. Our brand's reach has grown to more than 80 countries and now represents more than $10 billion in retail sales worldwide. Looking ahead, we will strive to build on the success we have enjoyed this past year and will continue to focus on creating shareholder value," Mr. Lauren added.
marketing@alchempro.com
