Ralph Lauren Corp Reported A Higher-than-expected - Usa Shopping

By Author: Dan Harper
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Ralph Lauren Corp reported a higher-than-expected quarterly earnings on Tuesday, helped by soaring revenue, but said it expected the pace of growth to reduce speed, in part because of Europe's economic problems.The clothing corporation, which sells mid-tier basics to high-end luxury labels, forecast a "mid-single digit" percentage increase in earnings for its year, which began April 1. That compares with a 20 percent rise last year. Results at Ralph Lauren, whose brands include Polo, Club Monaco and Chaps, are also under force because of its efforts to take more control of its China operations. That entails closing stores operated with a partner and replacing them over time with its own Ralph Lauren shops, which will be in more desirableplaces.The group will open another 60 or so stores in China in the next three years, all in "premier" spots, Chief Operating Officer Roger Farah told analysts on a call. "We see Ralph Lauren gaining global market stock via targeted investments in new goods and retail/e-commerce expansion," S&P Capital IQ analyst Jason Asaeda said in a note. The company's shares were up 3.9 percent at ...
... $151.98 in afternoon trading.Lately, Ralph Lauren has sought to build its business in Asia, which accounts for 12 percent of its earnings and is the fastest-growing market for luxury goods. Those steps have included taking control of its licensees in South Korea and Japan.Even with some pressures for the current year, the group's fourth-quarter earnings breezed past analysts' forecasts. Net income rose to $94.4 million, or 99 cents per stock, from $73.2 million, or 74 cents per stock, a year earlier. That was 15 cents higher than Wall Street's average estimate, according to Thomson Reuters I/B/E/S.income rose 13.7 percent to $1.62 billion. income at storesopen at least a year gained 12 percent, with the biggest increase coming from the Club Monaco chain. Farah said Ralph Lauren's investments in global e-commerce and the upgrade of its systems and infrastructure would weigh on results early in fiscal 2013, but were needed to sustain development.Ralph Lauren online store is only available in very few countries. If you do not live in the US and would like to buy items from Ralph Lauren online store you can use a package forwarding service like http://www.oneusaaddress.com .PULLBACK IN EUROPEEarly in the fiscal year, Ralph Lauren expects wholesale figures to decline in Europe, which is grappling with a and currency crisis. "We are concerned about near-term global economic trends, especially the uncertainty in Europe," Farah said. "Geopolitical issues are likely to dominate the consumer psyche for some time."Wholesale revenue will edge down, while retail profits expansion should be in the low double digits, Ralph Lauren said. But the company, which still gets the bulk of its revenue in the United States and Western Europe, said high-end shoppers had pulled back and were more "restrained" in their luxury clothing spending. income will also take a hit from J.C. Penney Co Inc's plans to dump Ralph Lauren's "American Living" brand this year. Ralph Lauren also said it was doubling its quarterly dividend to 40 cents per share.