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.
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@trinaturk and @macys Inc International Concepts line are linking up on a collection for summer — filled with accessories, swimwear and shoes. The collection will also include a Mr Turk men’s line, both of which are the designer’s first entry into a more accessibly priced area. “It’s very world-traveler, gypset-inspired,” said Turk. The Trina Turk x INC line will launch on May 15th. #wwdfashion
Assouline is paying homage to the late Azzedine Alaïa with a reprint of "Alaïa Livre de Collection.” The book is comprised of photographs of the designer's summer 1992 runway show with models Christy Turlington Burns, Naomi Campbell and Tyra Banks, pictured here at right. #wwdfashion #alaia #tyrabanks
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Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge