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Ralph Lauren Q1 Profit Slides, Revenue Up - Quick Facts

Apparel maker Ralph Lauren Corp. (RL) Wednesday said first-quarter net income fell to $162 million, or $1.80 per share, from $181 million, or $1.94 per share, for the first quarter of Fiscal 2014.

On average, 21 analysts polled by Thomson Reuters expected earnings of $1.76 per share for the quarter. Analysts' estimates typically exclude special items.

According to the company, the contraction in net income per share was a result of the decline in operating income that was partially offset by a lower effective tax rate and share count.

Net revenues grew to $1.708 billion from $1.653 billion, led by strong retail segment sales growth and double-digit expansion in international markets. Analysts expected revenues of $1.73 billion.

Looking ahead, in the second quarter of Fiscal 2015, the company expects consolidated net revenues to increase by 4-6 percent, led by retail segment growth.

The company continues to expect consolidated net revenues for Fiscal 2015 to increase by 6-8 percent.

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