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November 08, 2007
Ralph Lauren Lowers Full-Year Outlook
Polo Ralph Lauren lowered its full-year outlook this week, saying that it expects a slowdown in spending among moderate and better customers. It lowered its fiscal 2008 earnings expectations from $3.64 to $3.74 a share down to $3.60 to $3.50 a share.
The warning came as the fashion company reported solid second-quarter results in which sales increased 12.8% to $1.25 billion. However, profits for the quarter dipped from $137 million a year ago to $115.3 million, in part due to acquisition costs.
Posted by Blacks on November 8, 2007 07:19 AM
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