The major indices tried, but ultimately failed, to make back some of the ground surrendered on Monday, but retail shares spent virtually the entire day in negative territory and finished down more than 2 percent.
The S&P Retail Index ended Tuesday trading at 235.29, down 5.76 or 2.4 percent, enduring a far greater slump than the broader, more closely watched indices. The Dow Jones Industrial Average was off 0.6 percent to 6,726.02, and the S&P 500 shed 0.6 percent to 696.33. Like the Dow’s historic sub-7,000 finish on Monday, the S&P 500’s fall below the 700 mark turned back the clock in a most unfortunate way for investors, putting it at a level not seen since October 1996.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)