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UPDATE 1-Ralph Lauren's quarterly revenue, profit beat estimates

(Adds details on quarter, share price)

Nov 2 (Reuters) - Ralph Lauren Corp's quarterly revenue and profit beat Wall Street estimates on Thursday, as it kept costs low and sold more full-price apparel that lifted margins.

The company's adjusted gross margins rose 3 percent and revenue per unit sold across its stores rose 5 percent in the second quarter compared to a year earlier.

Shares of the New York-based company rose nearly 3 percent at $92 before the bell on Thursday.

The company also raised the lower-end of its 2018 operating margin forecast to 9.5 percent to 10.5 percent from its previous expectation of 9 percent to 10.5 percent.

The company's net income rose to $143.8 million or $1.75 per share in the second quarter ended Sept. 30, from $45.7 million or 55 cents per share, a year earlier.

Ralph Lauren took a $150 million charge on a slew of restructuring initiatives in the year-ago quarter.

The company's profit in the latest quarter before one-time charges beat estimates of $1.89 by 10 cents.

Revenue fell 9 percent to $1.67 billion, hurt in part by its decision to pull back from department stores and factory outlets. Analysts on average had expected $1.65 billion, according to Thomson Reuters I/B/E/S. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Bernard Orr)