Here's a little information on the financial tip. Do you want the good news or the bad news first?
Bad News: Polo Ralph Lauren Corp. has just reported a huge slide in profit, with shares down 11% yesterday. Earnings have fell 36% to $73.2 million, or 74 cents a share, for the fiscal fourth quarter. Reason? Rising production costs and Polo's unwillingness to change its garments to adjust to the new costs.
Good News: British luxury brand, Burberry released information that its annual net profits have more than doubled to £208 million because of the crazy demand in emerging markets for its clothing and accessories. It also added that the company's revenues have come up to 27 percent to £1.5 billion, which boosted sales of non-apparel goods, such as leather handbags, jewelry and shoes up 35 percent.
Hopefully Polo sees some improvement in the future. We would cry tears of Polo Bear if it went out of business.
