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Ralph Lauren profit dips in Q1
New York -- Ralph Lauren Corp. reported Wednesday that profit for the quarter ended June 29 dipped 6% to $181 million, compared with $193 million in the year-ago period.
Sales edge up 4% in the period, to $1.61 billion, but missed Wall Street’s estimated $1.65 billion in revenue. Same-store sales slipped 1%.
The fashion retailer has issued a cautious sales outlook, projecting a low-single-digit increase in current quarter revenue from last year’s $1.86 billion. -
Ralph Lauren looks to fall following better-than-expected Q1
NEW YORK — Ralph Lauren Corporation weathered an uneven global operating environment with resilience, resulting in better-than-expected first quarter retail sales for fiscal 2014, which increased 3% to $879 million from $857 million in the first quarter last year.