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Ralph Lauren, top performer in Wall Street

By FashionUnited

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US stocks closed in red Wednesday as investors

were prompt to book profits from the recent rally that has the S&P 500 Index up nearly 6 percent for the year to date, as Treasury prices rose and the euro dropped. Polo Ralph Corporation, Zumiez and True Religion Apparel presented their quarterly reports.

Ralph Lauren Corp. (RL) topped the winners´ group and closed the session as the best-performing stock on the S&P 500, with shares up nearly 7 percent after the apparel retailer's quarterly earnings beat Wall Street expectations, reported ‘Fox Business’.

The preppy fashion label registered revenues for the fiscal third quarter of 2013 up by 2 percent to 1.8 billion dollars (Rs 9,567 crores). According to the company, this improvement responds to strong retail segment expansion. Gross profit increased 6 percent to 1.1 billion dollars (Rs 5,846 crores), driving the net income up by 28 percent, to 216 million dollars (Rs 1, 155 crores). Earnings per diluted share increased were of 2.31 dollars (Rs 122.7)(+30 percent). Wholesale segment sales amounted to 734 million dollars (Rs 3,927 crores), slightly below last year´s comparable period.

Zumiez Inc. (NASDAQ: ZUMZ), announced that total net sales for the five-week period ended February 2, 2013 increased 57.9 percent to 50.3 million dollars (Rs 267 crores), compared to 31.8 million dollars (Rs 170 crores) registered a year ago. In the same breath, the company's comparable store sales increased 2.6 percent, on top of a comparable store sales increase of 11.1 percent for the five-weeks ended February 4, 2012, highlighted the company in a statement.

The athletic apparel retailer´s fourth quarter comparable store sales decreased 1.0 percent and the full year fiscal 2012 ones increased 5 percent. As explained by the company on Wednesday, they increased its fiscal 2012 fourth quarter guidance due to better than planned sales. Zumiez expects net income per diluted share to be 0.65 (Rs 34.7) to 0.66 dollars (Rs 35.3), an increase from the previously issued guidance of net income per diluted share of approximately 0.59 (Rs 31.5) to 0.62 dollars (Rs 33.1).

Elsewhere, analysts at Zacks downgraded G-III Apparel (NASDAQ: GIII) from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday. They currently have a 42.70 dollarsRs 2,285) price target on the stock.

Meanwhile, international markets digested Wednesday investors´ caution over the corporate news of the day ahead of the European Central Bank (ECB) announcement on Thursday. The European institution is expected to keep the benchmark interest rate at a record low 0.75 percent. In the waiting, European markets ended mixed, with Germany's DAX down 1.09 percent to close at 7,581.18 while the French index, CAC40 retreated 1.40 percent to finish at 3,642.90. On the other hand, British FTSE 100 rose 0.20 percent to 6,295.34. Among Asian markets, just the Indian BSE Sensex ended lower, shedding 0.10 percent to 19,639.72. China's Shanghai Stock Exchange Composite Index rose 0.06 percent, Japan's Nikkei 225 jumped 3.77 percent and Hong Kong's Hang Seng Index added 0.47 percent.

FashionUnited