Joe's Jeans and Asos take the lead

Joe's Jeans, Asos and Tiffany's became the most active stocks within the apparel sector Tuesday.

While the former sealed the acquisition of rival Hudson Clothing, Asos saw Kate Bostock, the former head of fashion for Marks & Spencer, leaving after just six months.

Joe's Jeans Inc. shares sank after the company reported a disappointing second-quarter profit and announced plans to acquire rival jeans maker Hudson Clothing. Joe's Jeans Inc stock closed down 39 cents at 1.47 dollars. The high-end jeans brand's second-quarter net income fell 17 percent.

Joe’s Jeans also reported second-quarter net income on Monday of 13.5 million dollars (2 cents a share), slightly below the same period a year earlier. Revenue rose 8 percent, to 31 million dollars, compared to analysts’ expectations of 3 cents a share.Shares of Joe’s Jeans fell more than 12 percent in after hours trading on the Nasdaq.

Still in Wall Street, Tiffany (TIF) closed at rise Monday and surpassed the 80 dollars a share after an analyst assigned the diamonds and jewelry seller the highest price target on Wall Street, exactly 13.9 percent above the consensus, highlighted the 'Motley Fool'.

Elsewhere, analysts at Trefis have highlighted the big potential that Asian markets hold for Guess Inc: “The denim label has been struggling in its main markets for a while as its store traffic in North America remains low and Europe continues to face economic headwinds. However, its Asian business has done well growing at an average annual rate of 25 percent over the last five years. The main reason behind this growth is the success that the company is seeing in China, which offers tremendous potential for western apparel retailers. In addition to this, Guess is also entering India and Japan. We believe that growing middle class, rising income levels and increasing urbanisation in these markets will fuel the demand for western clothing. In this analysis we’ll take a closer look at the potential that these markets have to offer.”