Retail stocks lost ground for the seventh time in 11 trading days as major indices in the U.S. and Europe saw declines.
The S&P 500 Retailing Industry Group was down 0.6 percent to 914, a steeper drop than the Dow Jones Industrial Average’s 0.4 percent drop to 16,417.01 and the S&P 500’s 0.1 percent contraction to 1,845.89.
Both the Dow and S&P hit all-time highs on Wednesday.
Among the fashion, retail and beauty stocks tracked by WWD, Nu Skin Enterprises sustained by far the largest decline, falling 26.4 percent to $84.80 after acknowledging that Chinese regulators were investigating the company’s recruiting practices and that it had initiated a “province-by-province” probe of its own. Birks Group Inc. shares declined 11.5 percent to $1.16 after it reported weak holiday sales earlier in the week, while Vince Holding Corp. was down 4.7 percent to $24.24 and American Eagle Outfitters Inc. off 3.6 percent to $14.41.
Those logging gains were led by Sears Holdings Corp., up 4.6 percent to $38.37, and Zale Corp., ahead 2.5 percent to $15.01. Sears said it had leased the upper level of its two-story store in King of Prussia, Pa., to Dick’s Sporting Goods.
European markets also lost ground, led by Milan’s FTSE MIB, which was down 0.9 percent to 19,875.69.
The CAC 40 was down 0.3 percent to 4,319.27; the DAX in Frankfurt, 0.2 percent to 9,717.71; and the FTSE 100 in London, 0.1 percent to 6,815.42.
Retail and luxury stocks put on a mixed show, with the day’s biggest gainers including Asos.com, 3.2 percent to 69.07 pounds; L’Oreal, 2.6 percent to 125.75 euros; and Bonmarche Holding, 4 percent to 2.82 pounds. Bonmarche isn’t affiliated with the Le Bon Marché department store in Paris.
Among the stocks that lost the most ground were Carrefour SA, down 3.7 percent to 27.25 euros; Burberry Group, 2.4 percent to 15 pounds; and, after revealing a slowdown in third-quarter sales, Compagnie Financière Richemont, 2 percent to 87 Swiss francs.
The pound traded for $1.64 against the U.S. dollar while the euro was spotted at $1.36 and the Swiss franc at $1.10.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia