The S&P 500 Retailing Industry Group gained 0.5 percent, or 3.94 points, to 769.75, as the Dow Jones Industrial Average, advanced 0.3 percent, or 48.92 points, to 15,105.12. Both indexes logged their best closes ever.
The retail gainers included Stein Mart Inc., which rose 7.6 percent to $10.90 after the company saidcomparable-store sales rose 8 percent in April; J.C. Penney Co. Inc., up 7.4 percent to $17.61 despite a sharper than expected first-quarter sales decline of 16.4 percent, and The Bon-Ton Stores Inc., 2.8 percent to $16.29.
Markets have been rallying on the back of an employment scene that is strengthening, but not so much so that the government is likely to raise interest rates in the immediate future. European stock markets also edged up, with the CAC 40 in Paris leading the way.
The French market advanced 0.9 percent to 3,956.28; followed by the DAX in Frankfurt, up 0.8 percent to 8,249.71; the FTSE MIB in Milan, up 0.8 percent to 8,249.71, and the FTSE 100 in London, ahead 0.1 percent to 15,077.95.
The euro traded at $1.31 against the dollar while the pound fetched $1.55 and the Swiss franc equaled $1.06.
Retail and luxury stocks were mostly on the upswing, with the day’s biggest gainers including Metro AG, up 3.1 percent to 25.51 euros; Inditex, 2.2 percent to 103.75 euros; Carrefour SA, 3 percent to 23.78 euros, and Yoox, 5.3 percent to 15.05 euros.
Among the few stocks that crept downward were Unilever, which fell 2.1 percent to 31.84 euros, and Gemfields, 2.1 percent to 0.24 pounds.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)