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.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion