U.S. retail stocks registered increases today but fell short of making up ground surrendered earlier in the abbreviated trading week.
The S&P 500 Retailing Industry Group rose 0.2 percent to 896.78 trimming its decline for the four-day week to 0.2 percent and its year-to-date losses to 4.6 percent. The Dow Jones Industrial Average and S&P 500 both stepped back 0.2 percent, to respective levels of 16,103.30 and 1,836.25, leaving them behind 0.3 and 0.1 percent for the week.
For the second straight day, American Apparel Inc. suffered the largest percentage decline among fashion, retail and beauty stocks tracked by WWD, shedding 6.1 percent to close at 62 cents after a 32 percent drop on Thursday amid a flood of reports about possible restructuring initiatives by the Los Angeles-based vertical retailer.
New York & Co. Inc. shares were off 3.8 percent to $4.26 and Columbia Sportswear Co.’s down 2.6 percent to $82.54.
Nordstrom Inc. shares lost 0.3 percent, to close at $59.24, following the Seattle-based firm’s report of lower earnings and cautious guidance late Thursday.
Among equities advancing was PVH Corp., up 2.7 percent to $121.24 after the company reaffirmed its fourth-quarter and full-year guidance in preparation for negotiations about an amendment to its credit facility that would allow it to redeem $600 million in senior notes due in 2020.
Under Armour Inc. shares rose 5.1 percent to $112.68 while a pair of struggling specialty retailers, Delia’s Inc. and The Wet Seal Inc., logged increases of 8.6 and 4.4 percent, respectively, to close at the week at 76 cents and $1.88. Aéropostale Inc. and Pacific Sunwear of California Inc. also scored well, rising 2.9 and 2.2 percent to close at $6.70 and $2.79.
Most European markets were in positive territory at the close of trading.
The CAC 40 in Paris rose the most, gaining 0.6 percent to 4,381.06, while the DAX in Milan increased 0.4 percent to 9,656.95 and the FTSE 100 in London gained 0.4 percent, to 6,838.06. Only the FTSE MIB in Milan lost ground, falling 0.3 percent to 20,391.90. So far this year, the FTSE MIB is up 7.5 percent, while the CAC is ahead 2 percent, the FTSE 100 is up 1.3 percent and DAX is up 1.1 percent.
Fashion, luxury and retail stocks were also mostly on an upswing.
The gainers included Swatch Group, up 1.2 percent to 103 Swiss francs; Yoox, 1.1 percent to 31.02 euros;Hermès, 1 percent to 238.70 euros, and Moncler, 2.9 percent to 14.66 euros.
Shares of Kering dipped 2.3 percent to 151.45 euros after it reported that its net profit fell 95.2 percent to 50 million euros in 2013, due in part to the costs associated with exiting its retail businesses Fnac and Redcats.
Other decliners included Brunello Cucinelli, down 0.5 percent to 20.65 euros; Marks & Spencer, 0.5 percent to 5.01 pounds, and Mulberry, 0.6 percent to 6.66 pounds.
The pound traded for $1.67 against the U.S. dollar, while the euro went for $1.37 and the Swiss franc for $1.12.
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)
@Pharrell and his wife Helen Lasichanh were among the stars that came out to celebrate @rimowa’s first pop-up concept shop. The space, which is located on Rodeo Drive in Beverly Hills, draws inspiration from airport luggage carousels and lounge areas – and features the company’s luggage and accessories. If the pop-up is successful it could pave the way for addition temporary shops throughout the world. #wwdfashion (📷: Owen Kolasinski/BFA)
@carineroitfeld celebrated @crfashionbook’s first calendar last night with a dinner party at Spring Place in Manhattan. Photographed by @stevenkleinstudio, the calendar takes on a fitness theme and features @joansmalls, @gigihadid, @danielle_herrington_ – pictured here – and more. “[Carine Roitfeld] wanted me to feel sexy and she wanted me to be myself and feel it out on my own and do what I felt was right,” said Herrington, aka Miss October. #wwdeye
@saintrecords and @virgilabloh last night at @americanexpress’ “A Night With Success Makers” event. “I always bring it back to community because without that I wouldn’t have the courage,” said Knowles when asked how she has gotten where she is now. Read more highlights from their conversation on WWD.com. #wwdeye (📷: @lizdoupnik)
This Just In: Industry sources have told WWD that Anastasia Soare is rumored to be considering selling her beauty business, @anastasiabeverlyhills. According to those sources, Soare has tapped investment bank Imperial Capital to explore sale options for her eponymous beauty brand –– and with at least $340 million in net sales, this would be a big deal. Put in context of other recent transactions for makeup companies, Soare’s price tag could be in the billions if she were to sell the whole thing. #wwdnews #wwdbeauty (📷: @clint_spaulding)
@assouline’s latest book, “The Spirit of Bentley: Be Extraordinary” captures the adventurous attitudes and opulent lifestyles of @bentleymotors’ most creative owners and enthusiasts throughout the U.K. The 292-page hardcover has a section dedicated to showing its team of skilled artisans and photos of its most colorful owners, from George Bamford to designer @alicetemperley, pictured here by Aline Coquelle. #wwdeye
@google released its report on the most popular search terms this year. For fashion brands, the list was led by @gucci, the luxury brand that stunned the market last October when it pledged to stop using fur. Runner ups were @supremenewyork and @fashionnova, along with more established brands like @louisvuitton, @chanelofficial and @ysl. #wwdfashion (📷: @aitorrosasphoto)
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)