Retail stocks closed out the first half with increases Friday as the major indices declined amid continued uncertainty about the future of the federal stimulus.
The S&P 500 Retail Industry Group rose 2.15 points, or 0.3 percent, to 788.37, putting it up 8.5 percent for the second quarter and a robust 20.7 percent for the first half of the year.
The Dow Jones Industrial Average was off 114.89 points, or 0.8 percent, to 14,909.60, leaving it down for the month while up 2.3 percent for the quarter and 13.8 percent so far this year. The S&P 500 was in similar territory, declining 6.92 points, or 0.4 percent, for the day, putting it up 2.4 percent for the quarter and 12.6 percent for the year.
Pacific Sunwear of California Inc. was among the day’s strongest performers, jumping 8.7 percent to $3.62 after Wedbush Securities upgraded the stock to “outperform” from “neutral.” Another West Coast specialty retailer with a similar lifestyle message, Zumiez Inc., rose 2.9 percent to $28.75.
Nike Inc. shares were up 2.2 percent to $63.58 following Thursday’s after-market fourth-quarter earnings report, in which it exceeded analysts’ estimates and reported an 8 percent increase in future orders, including some improvement in China.
Among the firms ceding ground on Friday were three beauty companies — Inter Parfums Inc., Revlon Inc. and Elizabeth Arden Inc. — with respective declines of 2.8, 2.5 and 2.4 percent, ending the week at $28.52, $22.06 and $45.04. The Estee Lauder Cos. Inc. fared only somewhat better, surrendering 1.1 percent to close at $65.77.
Among fashion, beauty and retail equities, advancers and decliners were essentially evenly matched.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18