The S&P 500 Retailing Industry Group joined the broader S&P 500 in registering its sixth consecutive winning session.
However, the retail index logged nearly twice as big a gain as its parent, rising 0.9 percent to 880.65 as the S&P 500 was up 0.4 percent to 1,879.55. The Dow Jones Industrial Average ran parallel to the S&P 500, rising 0.4 percent to 16,514.37.
Leading the U.S.-based fashion, retail and beauty stocks monitored by WWD, American Apparel Inc.’s shares jumped 21.6 percent to 66 cents following the removal last week of a delisting threat by the NYSE MKT exchange and the acquisition of 12.7 percent of its shares by Swiss investment firm FiveT Capital Holding. Others with larger than average gains included Dillard’s Inc., ahead 5.3 percent to $95.89, and Vince Holding Corp., up 3.9 percent top $27.36.
Shares of Bebe Stores Inc. fell 9.9 percent to $5.80 after the company said, in a preliminary report on its third-quarter results, that it would incur a deeper loss than previously expected and that its same-store sales, expected to be flat, fell 5.7 percent, dragging down gross margins. The Wet Seal Inc. was the only other member of the WWD sample to drop more than 3 percent, descending 3.3 percent to $1.18.
After being closed for four days, European markets went back to business with strong gains, with the DAX in Frankfurt leading the way.
The German market was up 2 percent to 9,600.09, followed by the FTSE MIB in Milan, up 1.5 percent to 21,935.34, and the CAC in Paris, up 1.2 percent to 4,484.21. The FTSE 100 in London was up 0.9 percent to 6,681.76.
Retail and luxury stocks were also on the uptick, with the day’s biggest gainers including Boohoo.com, 3.5 percent to 50 pence; Italia Independent Group, 4.1 percent to 39.60 euros; Metro AG, 3.8 percent to 29.23 euros, and Yoox Group, 3.3 percent to 25.54 euros.
Among the few stocks that dipped were Mulberry Group, 0.7 percent to 6.97 pounds, and Bonmarche Holding, 1.2 percent to 2.93 pounds.
The euro traded at $1.38 against the U.S. dollar, while the pound fetched $1.68 and the Swiss franc equaled $1.13.