Ralph Lauren Surges on 2012 Sales Outlook: New York Mover

Ralph Lauren Corp., the retailer of its namesake brand clothing, rose the most in more than three years after saying revenue in the current fiscal year may gain more than it previously expected.

Ralph Lauren surged 12 percent to $175.87 at 10:11 a.m. in New York, after earlier advancing as much as 14 percent for the biggest intraday gain since Nov. 24, 2008. The shares increased 24 percent last year.

Revenue for fiscal 2012 will jump 20 percent, up from a previous projection of a high-teens to low 20 percent gain, the New York-based company said today in a statement. Ralph Lauren cited its "stronger-than-expected third-quarter performance" in raising the forecast.

Read Full Article from San Francisco Chronicle

- Posted: 2012-02-08 14:22:43

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