Ralph Lauren expect sales gains during holiday quarter

Wednesday, 6 Nov 2013 | 8:12 AM ET

Nov 6 (Reuters) - Ralph Lauren Corp on Wednesday raised its full-year sales forecast on the expectation of strong gains during the holiday quarter, and raised its dividend.

The company said net revenue, including licensing revenue, rose 2.8 percent to $1.915 billion in the second quarter ended Sept. 28, and was in line with Wall Street projections.

As a result, Ralph Lauren now expect full-year revenue to rise between 5 percent and 7 percent, versus an earlier range of 4 percent to 7 percent. The company forecast revenue to be up between 8 percent and 10 percent this quarter.

Ralph Lauren raised its annual dividend 12.5 percent to $1.80 per share.

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