PROFITS DOWN AT POLO RALPH LAUREN

POLO Ralph Lauren yesterday posted lower-than-expected quarterly results and said higher raw material costs and business interruptions in Japan would hurt full-year margins, sending its shares down more than 10 per cent. The clothing maker, whose brands include Polo, Club Monaco and Chaps, said net income fell to $73.2m (£44.9m), or 74 cents a share, in the fourth-quarter from $114.1m, or $1.13 a share, a year earlier.