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. Editor’s note: European stocks are quoted in the currency of their principal exchanges. Shares on the London Stock Exchange are quote in pence, Richemont and The Swatch Group are quoted in Swiss francs and Hennes & Mauritz is quoted in Swedish kronor. All other European stocks are in euros.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim