UPDATE: Ralph Lauren Posts Upbeat FQ2 Profit, Lifts Dividend

Ralph Lauren

reported a drop in its fiscal second quarter profit. Ralph Lauren's quarterly profit declined to $205 million, or $2.23 per share, versus a year-ago profit of $214 million, or $2.29 per share. Its total revenue climbed to $1.92 billion from $1.86 billion. However, analysts were expecting a profit of $2.20 per share on revenue of $1.91 billion. Ralph Lauren now expects full-year sales growth of 5% to 7%, versus its earlier outlook of 4% to 7% growth. It also lifted its quarterly dividend by 12.5%. Ralph Lauren shares gained 3.62% to $177.39 in pre-market trading.