Shares of American Apparel Inc. outperformed among fashion stocks today, rising 6.7 percent after the ouster of founder and chief executive officer Dov Charney.
After three consecutive days of advances, the S&P 500 Retailing Industry Group closed out the day’s trading session with a drop of 0.7 percent to 887.96. The index failed to follow the leads of the Dow Jones Industrial Average and S&P 500, which were both up 0.1 percent, to 16,921.46 and 1,959.48, respectively.
American Apparel shares were up 4 cents to 68 cents and traded at as high as 78 cents during the day. The company faces a myriad of financial challenges, including a potential default triggered by Charney’s dismissal. In the past year, shares have traded as high as $2.09, on July 29, and as low as 46 cents, on April 8.
Among fashion, retail and beauty equities tracked by WWD, the largest decline belonged to Coach Inc., off 8.9 percent to $35.69 after it outlined plans for store closures and a fine-tuning of its outlet model. Other declines were modest in comparison, led by Zumiez Inc.’s 2.7 percent drop to $27.03 and American Eagle Outfitters Inc.’s 2.4 percent pullback to $11.50.
On the plus side of the ledger, Lands’ End Inc. and its former parent, Sears Holdings Corp., registered the largest gains of the day following American Apparel’s, with Lands’ End up 5.9 percent to $34.87 and Sears ahead 3.6 percent to $40.98.
European markets ended the day much as they started it – on the uptick.
The FTSE MIB in Milan led the way, closing up 0.9 percent to 22,216.63, followed by the CAC 40 in Paris and the DAX in Frankfurt, both of which were up 0.7 percent to 4,563.04 and to 10,004.00, respectively. The FTSE 100 in London advanced 0.4 percent to 6,808.11.
Retail and luxury stocks were mostly up, with the day’s biggest risers including Mulberry Group, 2.2 percent to 7.45 pounds; Safilo Group, 2.5 percent to 15.94 euros; Geox, 2.2 percent to 2.72 euros, and Gemfields, 5.1 percent to 52 pence.
Among the stocks that lost the most ground were Aeffe, down 3.7 percent to 1.32 euros; French Connection Group, 1.5 percent to 64 pence, and Yoox Group, 1.3 percent to 19.48 euros.
The euro traded at $1.36 against the U.S. dollar, while the pound fetched $1.70 and the Swiss franc equaled $1.11.
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
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“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye