UPDATE 1-Polo 2nd-qtr profit tops Street view
Published: 03 Nov 2009 17:34:39 PST* Q2 EPS $1.75 tops Wall Street view of $1.31
* Net revenue $1.37 bln, down from $1.43 bln
NEW YORK, Nov 3 - Polo Ralph Lauren Corp reported a higher-than-expected quarterly profit on Tuesday, helped by cost cuts and tight inventory.
Net income was $177.5 million, or $1.75 per share, in the fiscal second quarter ended Sept. 26, up from $161.0 million, or $1.58 per share, a year earlier.
Analysts on average were expecting $1.31 per share, according to Thomson Reuters I/B/E/S.
Net revenue fell to $1.37 billion from $1.43 billion a year earlier, hurt by lower domestic wholesale sales and a decline in retail sales at stores open at least a year.
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