Retail stocks slipped on Wall Street today as investors looked for direction.
The S&P 500 Retailing Industry Group dropped 0.6 percent, or 3.91 points, to 700.44, a steeper slide than seen by the Dow Jones Industrial Average, which declined 0.2 percent, or 21.73 points, to 13,971.24.
The retail index was led down by Amazon.com Inc., which fell 1.8 percent, to $257.21. Among the fashion and related companies losing ground were Jos. A. Bank Clothiers Inc., down 3.2 percent to $40.51; Elizabeth Arden Inc., 3.2 percent to $37.64; PVH Corp., 2.4 percent to $119.50; The Men's Wearhouse Inc., 2.3 percent to $29.52, and Ann Inc., 1.9 percent to $28.53.
The Dow is within 200 points of its all-time high set in 2007, but investors haven’t been able to muster the conviction to break through the barrier. The economy is still shaky and Europe's debt troubles remain worrisome. The retail index hit a new high-water mark of 713.13 last month, but has since retreated.
In Europe, the FTSE 100 in London gained 0.2 percent to 6,277.06 as the CAC 40 in Paris inched up 0.03 percent to 3,650.58. The DAX in Frankfurt declined 0.2 percent to 7,633.74 and the FTSE MIB in Milan showed edged down 0.6 percent to 16,529.87
The pound traded at $1.58 against the dollar while the euro traded at $1.34 and the Swiss franc went for $1.09.
Retail and luxury stocks were mostly off, with the exception of Mulberry Group, which was up 2.5 percent to 14.18 pounds; Metro AG, which advanced 1 percent to 24.70 euros, and Aeffe, which was up 1.4 percent to 0.68 euros.
Among the biggest decliners were Inditex, which sank 2 percent to 102.10 euros, and PPR and Safilo Group, which both retreated 2.3 percent, to 157.15 euros and to 8.40 euros, respectively.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion