Ralph Lauren Corp. said on Tuesday that its fiscal fourth-quarter profit climbed 29 percent, benefiting from strong sales and a lower tax rate. The clothing and home products company also doubled its quarterly dividend to 40 cents per share.
President and COO Roger Farah said in a statement that the company is pleased with its performance given rising raw material costs and uncertain economic conditions.
Heading into fiscal 2013, Farah said Ralph Lauren is cautious about near-term economic trends, particularly in Europe, but that it doesn’t change the company’s long-term growth expectations.
(Source: CNBC)