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Taking Stock: Chamberlain's New Gig... CIT in Ch. 11...

Former Stride Rite chief starts own firm.



SHOES BOOST RALPH LAUREN: Footwear was one of Ralph Lauren Corp.’s strongest performers during the firm’s second quarter when profits rose 10 percent, despite a decline in sales. “During a period of time, when department stores were trimming their open-to-buy and eliminating resources, we’ve successfully established ourselves as a true footwear resource and secured space in hundreds of department store doors for our Lauren brand. And we have been getting strong reorders this season,” Roger Farah, the firm’s chairman and CEO, said on a post-earnings conference call. Ralph Lauren footwear is found at high-end retailers globally, including Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Galleries Lafayette, Farah said. On RalphLauren.com, Farah said “solid growth performance” occurred in footwear, which was among several categories boasting the strongest gains on the Website. Looking ahead, he said, “This holiday season will teach us a lot. ... Orders for spring ’10 — placed in July — were still cautious. Most retailers felt that if they are [going to run] short, they can chase sales a little bit. They planned carefully to get through holiday, and in January and February, they’ll evaluate how they feel about fall ’10.” In the three months ended Sept. 26, Ralph Lauren net income rose to $177.5 million, or $1.75 a diluted share, from $161 million, or $1.58, in the year-ago quarter. Earnings per share exceeded analysts’ consensus estimates by 44 cents. Revenues fell to $1.37 billion from $1.43 billion. Sales at RalphLauren.com posted a 12 percent gain. — M.D. & VICKI M. YOUNG

 

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