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.
@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)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
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