Polo Ralph Lauren Corporation has reported net income of $63 million for the fourth quarter of 2006 compared with net income of $23 million for the same quarter in 2005. For the fiscal year 2006 net income reached $308 million compared with $190 million in 2005.

Net revenues for the fourth quarter increased 8% to $972 million compared with $902 million in the comparable period a year earlier, driven by a 15% increase in retail and a 6% increase in wholesale sales. Net revenues for the full year increased 13% to $3.75 billion, driven by strong increases in retail sales and wholesale sales. Fiscal 2006 revenues also reflect the acquisition of Polo Jeans in the fourth quarter and footwear in the second quarter.

Gross profit for the fourth quarter increased 10% to $525 million and rose 20% for the full fiscal year to reach $2.02 billion.

Wholesale sales in the fourth quarter were $574 million, up 6%, compared with $543 million in the fourth quarter last year. The increase came primarily from the inclusion of Polo Jeans and footwear, the launch of Chaps for women and boys, and increased sales in Lauren and the full-price menswear business.

Wholesale sales in fiscal year 2006 were $1.94 billion, up 13%, compared with $1.71 billion last year.

Retail sales were $335 million in the fourth quarter, up 15%, compared with $292 million in the fourth quarter last year. Retail sales in fiscal 2006 were $1.56 billion, up 16%, compared with $1.35 billion last year.

Licensing revenues fell in the fourth quarter to $63 million from $68 million in the fourth quarter last year. The decrease reflected lost royalties from footwear for the quarter and Polo Jeans for two months, as they transitioned to the wholesale segment post acquisition.