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Ralph Lauren profit rises 35% but stock falls

The global economy continued to challenge the clothing retailer.

Spencer Platt/Getty Images

The global economy continued to challenge the clothing retailer.

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Ralph Lauren Corp.’s quarterly profit rose 35 percent as it benefited from lower cotton prices and cost controls. But the stock fell because revenue was below expectations. Net income was $127.2 million, or $1.37 per share. Revenue rose a slim 1.2 percent to $1.64 billion. Analysts had expected earnings of $1.31 per share on revenue of $1.7 billion. The company projects revenue to rise 4 to 7 percent for the full year.

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