U.S. retail stocks bucked the broader trend and traded modestly higher today as most global indices ended their trading session down.
The S&P 500 Retailing Industry Group rose 0.2 percent to 898.25 while the Dow Jones Industrial Average fell 0.1 percent to 15,618.22.
Among the top gainers were Michael Kors Holdings, which rose 5.8 percent to $79.13 and hit a market capitalization of $16 billion after the company topped second-quarter expectations and raised its fiscal 2014 guidance. Also up were American Apparel Inc., rising 4.8 percent to $1.31, and Fossil Group Inc., increasing 2.9 percent to $134.02. Fossil reported a 16.8 percent rise in third-quarter profits after the equity markets closed.
Among those losing ground were The Bon-Ton Stores Inc., down 4 percent to $11.17, and Pacific Sunwear of California Inc., off 2.6 percent to $2.58.
The day’s trading sessions began in Asia with the Nikkei 225 in Tokyo up 0.2 percent to 14,225.37, while the Hang Seng Index in Hong Kong fell 0.7 percent to 23,038.95.
The European markets closed down after the European Commission downgraded its forecast for economic growth in the euro zone in 2014 to 1.1 percent, down from the 1.2 percent it expected previously. The FTSE MIB in Milan fell the furthest, by 1.1 percent to 19,091.93, followed by the CAC 40 in Paris, which dropped 0.8 percent to 4,253.34. London’s FTSE 100 and Frankfurt’s DAX each lost 0.3 percent, to 6,746.84 and 9,009.11, respectively.
Retail and luxury stocks were mostly down in the region. Burberry and LVMH Moët Hennessy Louis Vuitton, which both lost 1.6 percent, to 15 pounds and 139.65 euros, respectively. Kering dropped 1.8 percent to 165.30 euros.
Among the stocks gaining ground were Gemfields, up 7.4 percent to 0.35 pounds, after it reported a “solid” quarter at its emerald and ruby mines in Mozambique, and Mulberry, 5.2 percent to 10.51 pounds. Marks & Spencer increased 4.5 percent to 5.09 pounds after it said first-half pre-tax profits were up 0.1 percent to 280.6 million pounds, or $432.1 million, in the period ended Sept. 28, boosted by extraordinary gains, which included property disposals in London.
The pounded traded at $1.60 against the dollar while the euro fetched $1.35.
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
For @versace_official’s spring ad campaign, the brand emphasized the archival prints from the spring tribute collection dedicated to the late Gianni Versace. Closing out the show were five of Gianni’s favorite models: Cindy, Naomi, Carla, Helena, and Claudia. Bowing on December 18, the new campaign is yet another tribute to supermodel-dom as the images by Steven Meisel are fronted by @iamnaomicampbell, @cturlington, @gisele and more. #wwdfashion
Four-time Oscar-nominated actress Annette Bening has been waiting 20 years to play Gloria Graham in "Film Stars Don't Die in Liverpool," which will be released on December 29. The movie about Graham – a Hollywood star known for her controversial relationship with a younger Englishman named Peter Turner – is based off a memoir Turned wrote. "She felt vulnerable to him, because she loved him, she really did love him. And anyone that we really truly are in love with, we re vulnerable to in a very deep way," said Bening. Read our full interview with the modern icon of an actress on WWD.com. #wwdeye (📷: @ninebagatelles; Styled by @cristinaehrlich)
The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
Known for her work with @victoriassecret, 25-year-old model @georgiafowler is raising her profile in Hollywood. Fowler stars in @vincecamuto’s holiday campaign, which launched in partnership with “Pitch Perfect 3.” “Almost every shoot with Vince Camuto, I’ve had to face a fear…It was definitely a challenge. I’m so grateful for it, though. I’ve always wanted to be a pop star, so that was the perfect chance,” Fowler said. Head to WWD.com to read about Fowler’s experience modeling, including at the #VSFashionShow, and her relationship with Nick Jonas. #wwdeye (📷: @jilliansollazzo)
EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)