U.S. retail stocks spent much of the day in positive territory but pulled back for a small decline by the end of the trading day.
The S&P 500 Retailing Industry Group ended the trading session down 0.1 percent at 894.24 after spending time above the 900 mark, where it hadn’t been since early April.
The Dow Jones Industrial Average and S&P 500 both advanced 0.1 percent to 16,943.10 and 1,951.27, respectively, with both hitting intra-day record highs before closing off peak levels.
The Wet Seal Inc., which one year ago was selling for over $5, advanced 9.1 percent to 89 cents, leading the sample of U.S. equities tracked by WWD. Shares of Quiksilver Inc. and Oxford Industries Inc. rose 6 and 5.8 percent, respectively, to close at $3.90 and $68.75. Quiksilver shares picked up 9.9 percent on Friday as the firm came back from a sell-off earlier last week following a larger-than-expected second-quarter loss. Oxford is scheduled to report first-quarter results after the markets close Tuesday. Oxford shares were upgraded to “buy” from “neutral” by Sidoti & Co.
Among the issues losing ground, Birks Group Inc. was off 4.1 percent to $1.18 and Nu Skin Enterprises Inc. shed 2.6 percent to close at $74.77 while Inter Parfums Inc. was down 2 percent to $28.52.
Carl Icahn’s disclosure of a 9.4 percent stake in Family Dollar Stores Inc. helped lift its shares 13.4 percent to $68.62 even after the discounter put a poison-pill plan in place. Merger and acquisition activity also contributed to investor interest with Tyson Foods winning the bidding battle for Hillshire Brands and Merck agreeing to buy Idenix Pharmaceuticals. The deals were worth about $8 billion and $4 billion, respectively.
Europe’s markets finished the day much as they began them, with modest gains.
The FTSE MIB in Milan led the way, rising 0.8 percent to 22,472.12, followed by the three other main indices, all of which climbed 0.2 percent.
The FTSE 100 in London hit 6,875.00, while the CAC 40 in Paris reached 4,589.12, and the DAX in Frankfurt closed at 10,008.63.
Retail and luxury stocks were uneven, with the day’s larger declines coming from Mulberry Group, down 2.9 percent to 7.09 pounds; Moncler, 1.5 percent to 12.85 euros; Asos.com, 3.9 percent to 32.18 pounds, and Italia Independent Group, 1.6 percent to 34.20 euros.
Among those gaining ground were Gemfields, up 2.6 percent to 45 pence; French Connection Group, 2.9 percent to 70 pence, and Inditex, 1.2 percent to 108.75 euros.
The euro traded at $1.36 versus the U.S. dollar, while the pound fetched $1.68, and the Swiss franc equaled $1.12.
“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)