Why Ralph Lauren's Shares Are Up Sharply Today

Shares of Ralph Lauren (NYSE: RL) were moving up on Monday morning, on growing investor optimism about the impact of the coronavirus pandemic -- and some new signs that affluent consumers have been shopping online while staying home.

As of noon EDT, Ralph Lauren's shares were up about 14.5% from Friday's closing price.

Here's a new data point for retail-stock investors: Wayfair (NYSE: W), the online furniture and home-goods seller, said on Monday morning that its business has been booming since mid-March, when many consumers started sheltering at home to slow the spread of the COVID-19 virus. Clearly, at least some stuck-at-home consumers haven't stopped spending.

Source Fool.com