Retail stocks gave back some of the gains they’d amassed during five previous winning sessions.
The S&P 500 Retailing Industry Group finished the day at 906.45, 0.5 percent below the point at which it closed before the three-day July 4th weekend.
In the broader market, the Dow Jones Industrial Average gave back 0.3 percent to close at 17.024.14 and the S&P 500 declined 0.4 percent to 1,977.63.
Among fashion, retail and luxury stocks tracked by WWD, issues in decline outnumbered those on the rise by a nearly five-to-one margin, with the largest decline in the WWD sample belonging to The Bon-Ton Stores Inc., off 4.3 percent to $10.53, followed closely by Lululemon Athletica Inc.’s 4.2 percent dip to $40.82 and Vince Holding Corp.’s 4.1 percent slide to $35.20.
Stocks ending the session ahead included Cache Inc., up 4.3 percent to $1.69; Coach Inc., 1.9 percent to $35.82, and American Apparel Inc., up 1.7 percent to 88 cents as investors remained focused on the ongoing conflict between ousted chief executive Dov Charney, its board and its lenders.
European markets also began the week on a down note, with the CAC 40 in Paris leading the way.
The French market fell 1.4 percent to 4,405.76, while the FTSE MIB in Milan was down 1.3 percent to 21,273.22, and the DAX 1 percent to 9,906.07. The FTSE 100 in London contracted least, finishing the day down 0.6 percent to 6,823.51.
Retail and luxury stocks were generally down, with the notable exception of Italia Independent Group, shares of which rose 6.2 percent to 32.70 euros.
Among the stocks that lost the most ground were Aeffe, down 3.3 percent to 1.21 euros; Debenhams, 2.9 percent to 66 pence; Salvatore Ferragamo, 2.1 percent to 21.17 euros, and Burberry Group, 2 percent to 14.29 pounds.
The euro traded at $1.36, while the pound fetched $1.72, and the Swiss franc equaled $1.12.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
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24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews