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.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)