U.S. retail shares enjoyed their first positive day of the new year today as major indices in the U.S. and Europe logged increases. The S&P 500 Retailing Industry Group progressed 0.4 percent to 931.08 after opening 2014 with three consecutive declines. The Dow Jones Industrial Average and S&P 500 both were up 0.6 percent, to 16,530.94 and 1,837.88, respectively. Markets were energized by news of a lower trade deficit in November, spurred by increases in exports. Apparel and textile imports were up 5.2 percent for the month, according to the U.S. Commerce Department’s Office of Textiles and Apparel. Among U.S. retail, fashion and beauty issues tracked by WWD, American Apparel Inc. registered the largest increase for the day, gaining 6.7 percent to $1.43. The stock has seen a nice run and increased 38.8 percent since hitting its recent low of $1.03 on Dec. 16. Zale Corp. registered the second-largest gain of the day, with shares up 3.7 percent to $15.96. On the other side of the breakeven line, shares of Michael Kors Holdings Ltd. fell 3.8 percent to $78.94 after Citigroup analyst Oliver Chen downgraded the stock to “neutral” from “buy” based on what he viewed as a fair valuation following a “60 percent stock run in 2013.” Shares of Twitter Inc. continued their recent roller-coaster ride with a decline of 7.3 percent to $61.46. J.C. Penney Co. Inc. was off 5.5 percent to $8.19. One day after launching a hostile takeover bid for rival Jos. A. Bank Clothiers Inc., shares of The Men’s Wearhouse Inc. declined 0.2 percent to $51.56 while Bank’s surrendered 2.1 percent to close at $55.70. In a tender offer directed at Bank’s shareholders, Men’s Wearhouse boosted its bid to $57.50 a share, or about $1.61 billion. In Europe, markets were buoyant following word of a larger-than-expected decline in German unemployment from the nation’s Federal Labor Agency. Milan’s FTSE MIB led the region's charge with a 1.2 percent climb to 19,468.75 with Frankfurt’s DAX and Paris’s CAC 40 generating 0.8 percent increases to end the trading day at 9,506.20 and 4,262.68, respectively. In London, the FTSE 100 was up 0.4 percent to 6,755.45. Aeffe shares rose 6.8 percent to 0.90 euros while French Connection Group was up 4.5 percent to 36.59 euros, followed closely by Italia Independent Group, up 4 percent to 41 euros. Shares of Moncler declined 2.6 percent to 15.40 euros while Swatch Group’s were off 2.3 percent to 98.85 Swiss francs. The euro traded for $1.36 against the U.S. dollar and the Swiss franc for $1.10.
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)