Ralph Lauren Profit Rises 10 Percent

Source: Reuters

NEW YORK, United States — Designer clothing company Ralph Lauren Corp reported a 10 percent rise in third-quarter profit, helped by higher sales at its own stores, sending its shares up 8 percent in premarket trading.

The company’s net income rose to $237 million, or $2.57 per share, from $216 million, or $2.31 per share, a year earlier.

Revenue, including licensing revenue, rose 9 percent to $2.01 billion in the quarter ended Dec. 28. (Reporting by Aditi Shrivastava in Bangalore; Editing by Saumyadeb Chakrabarty)