Retail stocks bore the brunt of the burden Wednesday as both retail sales and oil supplies came in below expectations. The news sent all major indices down, but none more than the Standard & Poor’s Retail Index, which ended the day with a 2.4 percent decline to 385.06, more than twice the drop of the Dow Jones Industrial Average, which was off 0.9 percent to 11,532.96. By far the biggest percentage fall on the New York Stock Exchange came from Tween Brands Inc., which late Tuesday reported a far-larger-than-expected loss for its second quarter and a plan to convert its Limited Too stores to the younger, more moderately priced Justice nameplate. Shares were off
46.2 percent to $8.01, or $4.59 below their previous 52-week low. While Macy’s Inc. shares managed a 1.9 percent increase, to $20.66, despite the department store group’s lower second-quarter profits, investors took a dimmer view of Liz Claiborne Inc.’s loss for the period, sending shares down 11.6 percent to $13.18. A double-digit decline was also registered by Christopher & Banks Corp. (off 11.7 percent to $9.10) after J.P. Morgan Chase & Co. downgraded the stock to “neutral” from “overweight.” European issues were generally lower Wednesday as well, with Marks and Spencer Group plc declining 10.1 percent to 266.25 pence, or $5.07 at current exchange, in London trading.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)