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.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over the top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty