U.S. retail shares returned to positive territory after spending last week with losses.
The S&P 500 Retailing Industry Group was up 0.5 percent to 879.74, well above the gains registered by the Dow Jones Industrial Average and S&P 500, which advanced less than 0.1 percent to 16,781.01 and 1,937.78, respectively.
The increasing violence in Iraq and possible implications for world oil markets limited investor bullishness, despite small declines in prices following a spike at the end of last week.
“We do not consider this a high threat at present, but the militants could seize control of pipelines or other infrastructure in the oil supply chain,” wrote energy analysts at IHS Global Insight. “We do not consider this a high threat at present, but such infrastructure, as well as producing assets, will be a tempting target if the [Islamic State of Iraq and Syria] offensive moves into higher gear.”
Several specialty store issues logged gains beyond those of the retail sector at large as Jefferies analyst Randal Konik identified stores in the sector that, based on financial metrics and qualitative attributes, were deemed most attractive for takeover efforts by private equity investors.
Among the firms seen as most attractive, Abercrombie & Fitch Co. shares were up 1 percent to $42.14, Guess Inc. rose 3 percent to $26.83, and American Eagle Outfitters Inc. added 2.9 percent to $11.64. Chico’s FAS Inc. and Ann Inc. both advanced 1.4 percent to $16.87 and $40.94, respectively.
Among all the U.S.-based equities tracked by WWD, Inter Parfums rose the most, up 6.8 percent to $29.64, followed by Lands’ End Inc.’s 4.6 percent climb to $31.90.
The largest declines came from Cache Inc., down 4.3 percent to $1.57, and Michael Kors Holdings Ltd., off 3.8 percent to $90.29.
Earlier in the day, Europe’s major indices lost ground, with the FTSE MIB leading the way. The Milan-based exchange declined 0.9 percent to 21,976.26 points.
Next came Paris’ CAC 40, down 0.7 percent to 4,510.05. Meanwhile, London’s FTSE 100 and Frankfurt’s DAX each retreated 0.3 percent, to 6,754.64 and 9,883.98, respectively.
Among the biggest gainers was Debenhams, up 2.5 percent to 73 pence. Next and Mulberry Group advanced 1.1 percent each to 63.20 pounds and 7.16 pounds, respectively.
Stocks in the red included Ted Baker, down 3.1 percent to 18.12 pounds; Aeffe, which declined 2.3 percent to 1.26 euros, and Safilo Group, which dipped 1.7 percent to 15.40 euros.
Mysale Group, which operates flash sale sites in Australia, New Zealand, Southeast Asia and the U.S., ended at 2.10 pounds during its first day of trading on London’s AIM market. Some attributed its weakness to confusion about whether the initial pricing, at 2.26 pounds, was denominated in pence or pounds.
The pound traded for $1.55 against the U.S. dollar while the euro was priced at $1.32. The pound hit a five-year high against the dollar after Bank of England governor Mark Carney signaled the Britain might tighten monetary policy.
“It could happen sooner than markets currently expect,” he said in remarks last week.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty