UPDATE: Ralph Lauren Posts Upbeat Q4 Profit

Ralph Lauren RL reported a rise in its fiscal fourth-quarter profit. Ralph Lauren's quarterly profit surged to $127.2 million, or $1.37 per share, versus $94.4 million, or $0.99 per share, in the year-ago period. Its revenue gained 1% to $1.6 billion. Excluding charges, Ralph Lauren earned $1.41 per share. However, analysts were expecting earnings of $1.32 per share on revenue of $1.7 billion. Ralph Lauren shares dropped 4.29% to $180.00 in pre-market trading.