Retail stocks rose to new highs again today as the good vibes from Friday’s strong report on the job market lingered on Wall Street.
The S&P 500 Retailing Industry Group gained 0.4 percent, or 2.90 points, to 762.65, as the S&P 500 advanced 0.2 percent, or 3.08 points, to 1,617.50. Both indices set new highs.
The Dow Jones Industrial Average, which set a new high Friday, was roughly flat at 14,968.89. The fashion industry gainers included Stein Mart Inc., which shot up 13.2 percent to $9.72 after the company’s fourth-quarter earnings rose 130 percent to $13.5 million; American Apparel Inc., 4.1 percent to $2.05, and The Bon-Ton Stores Inc., 1.3 percent to $15.21.
European markets were off today. Milan’s FTSE MIB fell 0.4 percent to 16,862.99 as Frankfort’s DAX declined 0.1 percent to 8,112.08, and Paris’ CAC 40 decreased 0.2 percent to 3,907.04. The London Stock Exchange was closed for a bank holiday.
The decliners included LVMH Moët Hennessy Louis Vuitton, down 0.9 percent to 134.05 euros; Hermès International, 0.7 percent, to 262.10 euros, and Aeffe S.p.A., 0.4 percent to 0.60 euros. The euro traded at $1.31 against the dollar.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18