Upmarket clothing designer and retailer Polo Ralph Lauren reported a 36 per cent rise in fourth-quarter earnings, boosted by higher revenues and margins.
The New York-based company said income for the quarter, ended March 31st, rose to $43.1 million.
Revenues for the quarter rose 15 per cent to $538.5 million from $466.9 million in the prior year. Sales gains were driven by the acquisition of the Polo Ralph Lauren brands in Europe and continuing demand for its licensed brands, particularly Lauren and swimwear at department stores, the company said.
Gross profit rose 49 per cent due to higher margins associated with the European business and sales of a larger proportion of men's and women's luxury apparel, the company said.
Polo Ralph Lauren shares rose $1.18 to $29.84 today on the New York Stock Exchange. The stock has outperformed the Standard & Poor's 500 index by about 25 per cent since the beginning of the year.