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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.

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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