NEW YORK — The WWD Stock Index dipped 0.7 percent to 1,076.07 from 1,083.25 last week, while the S&P 500 fell 1.2 percent to 1,108.12 from 1,122.14.
Shares of Jones Apparel Group plunged 8.3 percent to $33.69 from $36.75 a week ago after the company lowered earnings guidance for the third and fourth quarters.
Pacific Sunwear of California Inc.’s stock declined 4.1 percent to $21.60 from $22.52 last week, despite its tapping Seth Johnson, former chief operating officer of Abercrombie & Fitch, to take the same position on Nov. 1. He will rise to chief executive officer in April.
Wet Seal Inc. was said to be in talks to sell off its Arden B. division. The company’s shares finished the week up 3.5 percent to $1.82 from $1.76 a week ago.
This story first appeared in the October 18, 2004 issue of WWD. Subscribe Today.