Ralph Lauren Laps Up Luxury Sales in Gilded Quarter

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Ralph Lauren delivers a strong quarter, adding to the list of other luxury names turning in good results for earnings. The luxury apparel maker reported broad-based increase in revenue and profits. Initially the stock traded up over 7% in early trading but then began to pull back. Ralph Lauren also announced a $500 million stock buyback. Lauren also increased its outlook for fiscal 2014 fourth quarter and for the fiscal year. The only negative in the earnings report was an increase in inventory.

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