Retail stocks and the U.S. market ended the week on a down note, although investors in Europe were more upbeat.
The S&P Retail Index fell 0.4 percent, or 2.89 points, to 662.77 today, as the Dow Jones Industrial Average slipped 0.1 percent, or 17.46 points, to 13,579.47.
The decliners included Abercrombie & Fitch Co., down 4.7 percent to $36.88; Coach Inc., 4.1 percent to $56.62; Aéropostale Inc., 2.9 percent to $13.95, and Guess Inc., 2.6 percent to $26.45.
Shares of Michael Kors Holdings Ltd., bucked the trend and jumped 9.3 percent to $57.35 after the company boosted its earnings per share guidance for the second quarter to 38 cents to 40 cents from the 33 cents to 35 cents previously anticipated.
European stock markets were generally on the rise and investors were encouraged by a report in the Financial Times that European Union authorities are working behind the scenes to pave the way for a new Spanish rescue program and unlimited bond buying by the European Central Bank. Milan’s FTSE MIB gained the most, rising 1 percent to 15,991.10, while the DAX in Frankfurt climbed 0.8 percent to 7,451.62. The CAC 40 in Paris was up 0.6 percent to 3,520.72.
London’s FTSE 100, which is outside of the euro currency bloc, was the outlier and slipped 0.03 percent to 5,852.62.
The day’s gainers included Inditex, which climbed to 2.5 percent to 99.38 euros, and Carrefour, which advanced 1.1 percent to 17.42 euros. Both Yoox and Safilo grew 1.3 percent, to 10.16 euros and 5.95 euros, respectively.
Losing ground were Mulberry, which slid 2.8 percent to 12.67 pounds, and LVMH Moët Hennessy Louis Vuitton, 1.2 percent to 122.55 euros.
The euro traded at $1.30 against the dollar, while the pound traded at $1.62 and the Swiss franc traded at $1.07.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast