Pursuits
Ralph Lauren Profit Tops Estimates on Lower Cotton Costs
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Ralph Lauren Corp., the retailer of its namesake brand clothing, reported fiscal third-quarter profit that topped analysts’ estimates, helped by lower-than-expected expenses and cheaper cotton.
Net income in the three months ended Dec. 29 climbed 28 percent to $215.7 million, or $2.31 a share, from $169 million, or $1.78, a year earlier, the New York-based company said today in a statement. Excluding some items, profit totaled $2.40 a share. Analysts projected $2.20 a share, the average of 14 estimates compiled by Bloomberg.