Retail stocks fell slightly today as major U.S. indices logged modest declines.
The S&P 500 Retailing Industry Group shed 0.3 percent to land at 939.07 while the Dow Jones Industrial Average and S&P 500 finished the day down 0.2 and 0.1 percent, respectively, at 16,418.68 and 1,877.17.
Stocks reacted less to tensions in Ukraine than to a report over the weekend that Chinese exports dropped unexpectedly last month.
Two recently pressured stocks traveled in different directions, with Sears Holdings Corp. rising 6 percent to $47.97 and American Apparel Inc. down the same percentage to 74 cents.
Also losing ground were two specialty retailers who’ll report fourth-quarter and full-year results later in the week. Aéropostale Inc.’s shares were down 5.2 percent to $7 while The Buckle Inc.’s dropped 1.9 percent to $46.94. Aéropostale reports after the market closes on Thursday and Buckle prior to Friday’s opening bell.
Elsewhere in the specialty retailing arena, The Wet Seal Inc. saw its shares rise 1.6 percent to $1.91 after it expanded its board with the addition of three independent directors and received assurances from activist investor The Clinton Group that it would vote for the entire slate of directors at the company’s annual meeting on May 22.
European markets yielded mixed results, with the FTSE MIB in Milan notching up a 0.6 percent gain to 20,753.36 and the CAC 40 in Paris edging up 0.1 percent to 4,370.84. However, the DAX slipped 0.9 percent to 9,265.50, while the FTSE 100 in London lost 0.4 percent to 6,689.45.
Fashion, luxury and retail stocks similarly produced mixed results as the week began.
Those that made gains included French Connection, up 4.2 percent to 61 pence, and Geox, up 4.4 percent to 3.49 euros. Aeffe climbed 1.5 percent to 0.83 euros and Hennes & Mauritz closed up 0.4 percent to 285.90 Swedish krona.
Those that lost ground included Yoox, down 2.8 percent to 31.39 euros; Safilo Group, which fell 4.3 percent to 16.01 euros; Marks & Spencer, which lost 3.1 percent to 4.81 pounds, and Mulberry, down 2.8 percent to 6.57 pounds.
The pound traded for $1.67 against the U.S. dollar, while the euro changed hands for $1.39 and the Swedish krona for 16 cents.
“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