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Ralph Lauren 1Q net income rises

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)