May 19, 2010 / 1:13 PM / 7 years ago

Polo Ralph Lauren profit more than doubles

<p>The Polo Ralph Lauren logo is seen on their boutique on Rodeo Drive in Beverly Hills, California in this August 5, 2008 file photo.Fred Prouser</p>

NEW YORK (Reuters) - Polo Ralph Lauren Corp (RL.N) reported a quarterly profit on Wednesday that more than doubled, as strong sales at its retail stores helped offset a decline in wholesale revenue.

The fashion company, home to brands like Polo, Club Monaco and Chaps, said net income was $114.1 million, or $1.13 per share, for its fiscal fourth quarter ended April 3, up from $44.5 million, or 44 cents per share, a year earlier.

Net sales were $1.29 billion in the quarter, up from $1.18 billion a year earlier.

The company said it expects consolidated revenue to rise at a low double-digit rate in the current first quarter of fiscal 2011, and to rise at a mid-single-digit rate for the full year.

Reporting by Martinne Geller, editing by Gerald E. McCormick

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