Polo Ralph Lauren 1Q Earning Beats Wall Street on Hiked Sales and Global Presence

Polo Ralph Lauren Corp. (NYSE:RL) shot into the green Wednesday after it reported stronger-than expected first quarter earnings, driven by higher revenues in its retail and wholesale segments, and an increased global presence. The clothing company reported a net income of $121 million, or $1.21 a share, compared with $77 million, or 76 a share, in the same quarter last year, and landing ahead of average analyst estimates of 89 cents. Revenue for the New York-based company was $1.2 billion, up 13% from $1 billion in the earlier-year quarter, and beating the Street’s