USA: Polo Suffers Q1 Profit Fall, Backs FY View
Upscale clothing giant Polo Ralph Lauren Corp on Wednesday reported a fall in first quarter earnings due to price pressures in the men's sportswear sector and increased expenses in Europe and Japan. The New York-based firm posted a net profit for the quarter ended June 28 of $5.1 million, or five cents per diluted share, compared to $6.5m, or seven cents per share, in the year-ago period.
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