Polo profit beats, revenue outlook raised

Polo Ralph Lauren Corp (RL.N) reported a higher-than-expected quarterly profit on Wednesday and again raised its full-year sales outlook due to strong demand globally, sending its shares to an all-time high.

The clothing company, whose brands include Polo and Chaps, has benefited from rebounding demand for luxury items, as well as strong sales overseas and at its lower-priced Club Monaco chain.

"We were braced for a particularly robust quarter from Polo Ralph Lauren (and so was the market ... the stock is at a 52-week high)," Wall Street Strategies analyst Brian Sozzi said in a research note. "To put it simply, we were not disappointed."

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- Posted: 2010-11-10 09:49:47

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