Tight competiton for H&M, Inditex and Asos also on trading floor

Wednesday closed as a pretty busy session,

with Inditex, H&M and Asos capitalising the news with their respective seasonal releases and Men's Wearhouse, BEBE Stores and Prada also attracting a good deal of attention.

American stocks closed lower Wednesday, as the Dow Jones Industrial Average dropped 127 points to 14995, the Standard & Poor's 500-stock index fell 14 points to 1613, and the Nasdaq Composite was down 37 points to 3400. Among the companies with shares moving after hours PVH Corp. (PVH) was to be spotted.

In Wall Street, PVH Corp, owner of Tommy Hilfiger and Calvin Klein brands posted earnings of 1.91 dollars a share, excluding one-time items, surpassing expectations with 1.35 dollars a share on revenue in line with estimates at 1.9 billion dollars. These figures sent the stock soaring.

Meanwhile, Men's Wearhouse posted earnings of 65 cents a share, exceeding Wall Street estimates and on revenue of 617 million dollars – well ahead the forecast of 605 million dollars. In addition, the company handed in full-year earnings that were in line with expectations. Shares were largely unchanged in extended-hours trading.

Elsewhere, BEBE Stores topped the winners chat within the FashionUnited Top 100 Index, adding nearly 2.5 percent after Zacks upgraded its shares from an ‘underperform’ rating to a ‘neutral’ rating in a report released on Monday. Zacks currently has 6 dollars price objective on the stock.

Big news Wednesday were both Inditex and H&M. The Spanish apparel giant reported net income of 438 million euros for the first quarter of 2013, 4 million euros more than last year's same period. Net sales rose by 5 percent to 3,59 billion euros compared to the 3,41 billion euros it achieved a year ago. Meanwhile, Inditex main direct competitor H&M unveiled May same-store were unchanged and reported fiscal second quarter net sales on Wednesday that missed analysts' expectations. H&M has seen margins fall due to currency swings and long-term investments. Shares in H&M were down 0.5 percent.

In London, Asos jumped 51 pence at 4,032 pence Wednesday after reporting a further surge in sales in its third quarter. Retail sales were up 39 percent in the UK for the three months ending May 31, while international sales were up 48 percent - accounting for 67 percent of total sales.

Sales in the United States reached 21 million pounds, with those in the EU at 47 million pounds and other markets totalling to 61 million pounds. Combined, the company saw revenue reach 194 million pounds in the period.

Chief Executive Nick Robertson said: "We anticipate a further increase in the fourth quarter which should result in a small improvement for the year as a whole. We remain positive in our outlook for the year to 31 August 2013 and expect our full year results to be in line with expectations."