The U.S. stock markets inched up Thursday as investors overcame continuing credit and financial concerns and ran toward companies such as Chevron and Exxon as oil prices rose. The Dow Jones Industrial Average increased 0.11 percent, or 12.78 points, to 11,430.21 as the broader S&P 500 gained 0.3 percent, or 3.18 points, to 1,277.72. Shares in the S&P Retail Index managed to perk up 1.2 percent, or 4.69 points, to 387.77. Among those picking up significant gains for the day were Limited, which climbed 12.9 percent after the retailer upped guidance for the year on Wednesday afternoon; Children’s Place, up 11 percent, and Citi Trends, which advanced 9.8 percent after posting higher second-quarter sales and earnings. Shares of Wal-Mart, a Dow component stock, inched
up 0.2 percent. On the other side of the ledger, Hot Topic’s stock was off 17.9 percent after the firm reported a loss for the second quarter and lowered guidance. Also registering stock declines for the day were Macy’s and Dillard’s. Among vendors, G-III continued its ride up with a 3.9 percent gain after inking a deal this week for the Calvin Klein better sportswear license. Other vendors on the upswing included Jones, Coach, Kenneth Cole and VF.
“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)