POLO RALPH LAUREN Group reports 11% increase in revenues for the second quarter
POLO RALPH LAUREN Group reported an 11% increase in revenues for the second quarter of the fiscal year 2011, reaching a level of USD 1,5 billion. Sales have grown by 12% and operating profit rose by 33% for the first half of the year. During the second quarter, the Company opened eight directly operated freestanding stores. Over the last twelve months, the Company has opened 24 directly operated stores, closed seven directly operated stores and assumed control of 18 formerly licensed stores.
“We are extremely pleased with our second quarter and first half performance,” said Ralph Lauren, Chairman and Chief Executive Officer. “The customer is responding to the strength of our product offerings, our innovative and unique marketing and advertising platforms and the exceptional experience and service we provide. We achieved several milestones over the past few months, from opening our two, stunning flagship stores on Madison Avenue, launching our first international digital flagship in the United Kingdom and introducing our first line of Lauren handbags. We also made important progress integrating our Asian operations. All of these activities herald an exciting new era of opportunity for our Company.”