POLO PROFITS JUMP 13.7% IN FIRST QUARTER; FIRM ATTRIBUTES STRONG SHOWING TO SOLID WHOLESALE, RETAIL SELL-THROUGHS.(Brief Article)

Daily News Record, August, 1999 by EDELSON, SHARON; RYAN, THOMAS J.

NEW YORK -- Polo Ralph Lauren Corp. seems to be firing on all cylinders.

The company's first-quarter results, reported Tuesday, demonstrate self-discipline in the form of aggressive expense and inventory controls as well as robust sell-throughs on both the wholesale and retail sides of the business.

The only exception was same-store sales, which declined 2 percent. However, Wall Street analysts did not seem too concerned, noting that the Ralph Lauren retail division does about $700 a square foot in annual sales, which exceeds the industry average.

Earnings handily surpassed estimates, climbing 13.7 percent in the quarter ended July 3, to $24.1 million, or 24 cents a share, from $21.2 million, or 21 cents, a year ago.

The...