Ralph Lauren’s Profits Rise After it Started Selling Less Products in Discount Stores

Ralph Lauren’s plans to reduce promotions and rein in distribution are yielding progress. The company today posted better-than-expected second-quarter profits of $144 million, or $1.75 per diluted share. On an adjusted basis, net income rose 4 percent year-over-year, to $164 million, or $1.99 per diluted share, significantly topping analysts’ bets for diluted earnings per share of $1.88. Still, as the company works to increase quality of sales, reduce promotional activity and elevate...

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