U.S. retail stocks gained 0.6 percent today, surpassing the broader markets, which moved up slightly as investors pondered the outcome of Tuesday’s presidential election.
The S&P 500 Retailing Industry Group gained 3.98 points to 654.88, as the Dow Jones Industrial Average increased a lesser 0.2 percent, or 19.28 points, to 13,112.44.
Fashion’s strongest stocks included Aéropostale Inc., up 6.9 percent to $14.19; Movado Group Inc., 5.9 percent to $33.38; Express Inc., 4.6 percent to $11.73; Abercrombie & Fitch Co., 3.9 percent to $34.07; Tumi Holdings Inc., 3.6 percent to $22.50, and Nordstrom Inc., 2 percent to $57.62.
In Europe, investors were cautious ahead of the U.S. elections as well as key legislative votes in Greece. The Greek parliament is expected to vote on structural reforms Wednesday, with a further vote on Sunday on a 2013 austerity budget. The results of these votes will determine whether Greece will receive more financial aid from lenders.
The FTSE MIB in Milan was down 1.4 percent to 15,544.40, followed by the CAC 40 in Paris, which dropped 1.3 percent to 3,448.50. The FTSE 100 in London fell 0.5 percent to 5,839.06 following news that HSBC posted a 52 percent drop in third quarter net income. Frankfurt’s DAX dipped by 0.5 percent to 7,326.47.
Retail and luxury stocks were mostly down.
The day’s biggest decliners included Asos.com, down 2.8 percent to 22.82 pounds; Inditex, 2.3 percent to 100 euros; PPR, 2 percent to 135.05 euros; and L’Oreal, 1.9 percent to 98.56 euros. Among the companies bucking the trend were Hermès International, up 1.7 percent to 222.70 euros; Unilever, 0.7 percent to 28.77, and Tod’s, which was also up, by 0.5 percent to 93.65 euros. The euro traded at $1.28 versus the dollar and the pound traded at $1.60.
A grooming moment between @tanfrance and @antoni last night at the The LGBT Community Center Trailblazer Awards honoring Anna Wintour, Ricky Martin and more. See more photos at WWD.com #wwdeye (📷: @lexieblacklock)
“It was a very surreal feeling. It wasn’t like we were in the studio together coming up with it — it’s more like he discovered it and loved it. I didn’t let myself get my hopes up, but then it happened it was very exciting,” said singer-songwriter @nombe on discovering that @pharrell would be using his song, “Cant Catch Me” on his HBO documentary series “Outpost.” The German-born singer — named Noah MacBeth — talked to WWD about feminism, using art as a platform for political expression and personal style. Read more on WWD.com #wwdeye (📷: @jilliansollazzo)
This season, denim is going west – in influence. Brands like @fathersdaughterla (pictured here), @tommyhilfiger Jeans, @levis and more are opting for raw, top-stitching styles. (Styled by @thealexbadia; 📷: @ryanplett)
20-year-old British singer @jorjasmith_ made her debut at Coachella last weekend. We caught up with her and talked about her love for Amy Winehouse, working with Kendrick Lamar on the “Black Panther” album and her fashion philosophy. Read the interview on WWD.com #wwdeye (📷: @katiedaisyla)
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)