U.S. retail stocks fell for a second-straight session today, joining the major indices in the U.S. and Europe in a week of price pullbacks.
The S&P 500 Retailing Industry Group finished the day at 912.69, with its 0.4 percent decline matching that of the S&P 500, which landed at 1,775.50. The Dow Jones Industrial Average logged its third off day in a row and its second in which it shed more than 100 points, losing 0.7 percent to finish at 15,739.43.
The day’s performance gave the Dow and the S&P three consecutive days of declines.
The sharpest decline among the stocks tracked by WWD came from Lululemon Athletica Inc., which fell 1.7 percent to $60.39 after the firm projected flat comparable-store sales for the fourth quarter. American Apparel logged the second largest decline, falling 5.2 percent to $1.09.
The largest advances came from Zale Corp., up 15.5 percent to $14.73; Twitter Inc., 5.7 percent to $55.33; Facebook Inc., 5 percent to $51.83, and The Jones Group Inc., 4.7 percent to $14.37. Oxford Industries Inc. was up 5.2 percent to $76.88 after it provided a fourth-quarter outlook in line with the results analysts had expected.
European markets experienced a more severe downward trajectory earlier in the day.
The FTSE 100 in London fell 1 percent to 6,445.25, while the FTSE MIB retreated 0.9 percent to 17,804.87. The DAX in Frankfurt was down 0.7 percent to 9,017.00, while the CAC 40 dipped 0.4 percent to 4,069.12.
The euro traded at $1.38 against the U.S. dollar, while the pound fetched $1.64, and the Swiss franc equaled $1.13.
Among the day's biggest decliners were Debenhams, down 2.9 percent to 0.86 pounds; Asos.com, 1.5 percent to 59.45 pounds; Burberry Group, 2.5 percent to 14.49 pounds, and Compagnie Financière Richemont, 2.3 percent to 85 Swiss francs.
Bucking the trend with gains were Metro AG, which advanced 2.4 percent to 35 euros, and Luxottica Group, up 0.6 percent to 35.95 euros.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion