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.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)