US apparel and luxury goods company Polo Ralph Lauren Corporation has reported net income of $73 million for the fourth quarter of fiscal 2007 compared with $63 million for the prior-year fourth quarter, a 17% increase. For the year, net income grew 30% to $401 million compared with $308 million for 2006.

Fourth quarter net revenues increased 6% to $1.03 billion compared with $972 million for the fourth quarter of 2006, while net revenues for the year increased 15% to $4.3 billion compared with $3.75 billion last year. Excluding the effects of the Polo Jeans and footwear acquisitions, consolidated revenues increased 10% compared with the same period last year.

Wholesale sales in the fourth quarter increased 10% to $629 million compared with $574 million in the prior-year period. For the full year, wholesale sales were up 19% to $2.32 billion versus $1.94 billion in the same period last year. Excluding the effect of the Polo Jeans and footwear acquisitions, revenues increased 9% primarily through increased sales in Europe as well as domestic sales gains in Lauren, Chaps for women and children, and in the men's business.

Retail sales were up 3% to $346 million in the fourth quarter compared with $335 million, while retail sales for the full year were up 12% to $1.74 billion compared with $1.56 billion last year.