Polo Ralph Lauren report healthy financial results for frst quarter
Polo Ralph Lauren Corporation reported this week that net revenues for the first quarter of Fiscal 2012 increased 32% to $1.5 billion from $1.2 billion in the comparable period last year. Gross profit increased 35% to $962 million from $712 million. The Company ended the first quarter with $981 million in cash and investments, or $677 million in cash and investments net of debt (“net cash”), compared to $1.1 billion in cash and investments and $801 million of net cash at the end of the first quarter of Fiscal 2011.
In the second quarter of Fiscal 2012, the Company expects consolidated revenues to increase at a high-teens-to-low 20% rate. Wholesale revenues are expected to grow at a mid-teens rate in the second quarter and retail sales are projected to increase by a mid 20% rate.