|Up 11% today||pilgr...@gmail.com||5/28/08 12:44 PM|
05.28.08, 12:05 PM ET
Polo Ralph Lauren
Slowed consumer spending couldn't rumple Polo Ralph Lauren, which said
Wednesday that strong sales and a lower tax rate helped the retailer
post a 41.4% increase in fourth-quarter earnings.
The company's stock galloped ahead in morning trading, gaining $7.32,
or 11.9%, to $69.07 a share.
Chairman Ralph Lauren (nyse: RL - news - people ) credited the
strength of the company's brands, which stretch across the retail
spectrum with labels like Chaps, Club Monaco, Black Label. In the
fourth quarter, the company launched American Living, a lifestyle
brand created exclusively for JC Penney (nyse: JCP - news - people ).