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Shelly Banjo

Rescuing Ralph Lauren Won't Be Quick

His moves so far and his track record at Old Navy should buy him some time.

After Wednesday's retail bloodbath -- when Macy's said its crummy results will likely last all year, sending its stock plunging 15 percent, taking other retailers down with it -- investors were pleasantly surprised Thursday to see less-than-horrible results at Ralph Lauren, a big department-store vendor. 

Shares spiked by 6 percent at the open on Thursday and held onto some of those gains even as department-store shares kept falling. Call it the "Stefan Larsson bump."