Polo Ralph Lauren (NYSE: RL), American fashion designer Ralph Lauren's luxury lifestyle company, announced the largest increase of stock in almost two years.
Its shares jumped $6.96, or 11 percent, to $68.71 at 11:04 a.m. in New York Stock Exchange composite trading.
This sudden surge resulted from profit increase, boosted sales of its new American Living line for J.C. Penney Co. and soared activity in Europe.
The company’s net income gained 41 percent jumping to $103.5 million, or $1 a share. The fourth-quarter profit totaled $73.2 million, or 68 cents, excelled analysts' average projection by 35 cents.
Polo’s revenue experiences 20 percent increase to $1.24 billion.
American Living line and Chaps line boosted the company’s sales by a quarter.