U.S. retail stocks rose today as investors around the world pushed markets higher.
The S&P 500 Retailing Industry Group increased 0.5 percent to 918.80 as the Dow Jones Industrial Average rose 0.8 percent to 15,884.57.
Among the top gainers in the U.S. were Burlington Stores Inc., up 5.8 percent to $28.93, followed by Delia’s Inc., gaining 5.5 percent to $1. Bebe Stores Inc. rose 3.8 percent to $5.20.
The decliners included Sears Holdings Corp., falling 4.1 percent to $44.10, and Pacific Sunwear of California Inc., down 2.5 percent to $3.17.
Investors are keeping a careful watch on the Federal Reserve to see when the central bank might start to wind down its program to buy $85 billion in bonds each month, helping to stimulate the economy. The first bond-buying binge to stimulate the economy occurred in 2008. In Europe, the markets also ended on an upbeat note, with the major indices making gains.
The FTSE MIB in Milan rose the most, increasing 2.3 percent to 18,222.42, while the DAX in Frankfurt rose 1.7 percent to 9,163.56. The CAC 40 in Paris was up 1.5 percent to 4,119.88 and the FTSE 100 in London gained 1.3 percent to 6,522.20.
Purchasing Managers’ Index figures for December, showing that Germany experienced its strongest manufacturing output growth since May 2011, were said to be among the factors boosting investor sentiment. The PMI index for Germany’s output stood at 57.5 in December, up from 54.9 in November, according to Markit, the firm that produces the index.
Those firms that rose included Hugo Boss, up 2.1 percent to 99.30 euros; Burberry, 1.7 percent to 14.70 pounds; Inditex, 2.1 percent to 113.25 euros, and Hennes & Mauritz, 1.7 percent to 283.10 Swedish krona.
The few fallers included Prada, down 3.9 percent to 67.30 Hong Kong dollars; Esprit, 1.8 percent to 15.40 Hong Kong dollars, and Mulberry, 4.4 percent to 9.50 pounds.
The pound traded at $1.63 against the U.S. dollar, while the euro went for $1.37, the Hong Kong dollar traded at 13 cents and the Swedish krona fetched 15 cents.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia