Improved Q2 results at Polo Ralph Lauren
10/11/2006
Polo Ralph Lauren Corporation reported net income of $137 million for the second quarter of fiscal 2007 compared with net income of $104 million for the second quarter of 2006, an approximate 32% increase.
Net revenues for the second quarter increased by 14% to $1.17 billion, compared with $1.03 billion in the second quarter last year. Excluding the impact of the Polo Jeans acquisition, net revenues increased 9%.
First half net revenues increased by 19% to $2.12 billion, compared with $1.78 billion last year. Excluding the impact of the Polo Jeans and footwear acquisitions, net revenues increased 13%. For the first half, net income was $217 million compared with $155 million, a 40% increase.
The company hopes that the proposed acquisition of Kellwood’s New Campaign, Inc. business, for the manufacturing and distribution of men’s and women’s belts and other small leather goods will improve future earnings.
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