Ralph Lauren expect sales gains during holiday quarter
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.