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.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews