Retail stocks outperformed on Wall Street today, with J.C. Penney Co. Inc., Dillard’s Inc. and Nordstrom Inc. all logging dramatic increases after reporting first-quarter results late Thursday.
Penney’s stock jumped 16.3 percent to $9.73 as investors applauded signs of a rebound seen in the company’s first-quarter earnings, which showed a 6.3 percent gain in sales to $2.8 billion.
Dillard's stock increased 14.9 percent to $111 after the company said its comparable-store sales rose 2 percent in the quarter. And Nordstrom was up 14.7 percent to $70.55 following a 6.6 percent rise in sales to $2.93 billion. Nordstrom also said it was exploring the sale of its $2 billion credit card receivables.
On the broader market, the S&P 500 Retailing Industry Group increased 1.2 percent to 851.90, while the Dow Jones Industrial Averageinched up 0.3 percent to 16,491.31.
In Europe, the FTSE MIB in Milan rose 1.1 percent to 20,648.59, as the FTSE 100 in London rose 0.2 percent to 6,855.11. However the CAC 40 in Paris fell 1 percent to 4,456.28 and the DAX in Frankfurt slipped 0.3 percent to 9,629.10.
The region’s gainers included Luxottica Group, up 2.5 percent to 41.68 euros; Aeffe, 1.4 percent to 1.09 euros; Tod’s, 0.8 percent to 99.85 euros, and Salvatore Ferragamo Italia, 0.5 percent to 22.90 euros.
“I’ve struggled my whole life to find a bathing suit that fits me that doesn’t look like a maternity bra. I’m proud of the line because it’s an accurate representation of me rather than me putting on someone else’s clothes,” says @atlantabean of her swimwear collaboration with @piaarrobio, LPA X ATL. The two decided on a swimwear collab and increased the industry standard size for the pieces. Read more about the line — and our interview with de Cadenet Taylor and Arrobio — on WWD.com #wwdfashion
Exclusive: Cate Blanchett has been named the first global beauty ambassador for @armanibeauty. Blanchett has been the face of the brand’s Sì fragrance franchise since 2013, and is now representing all of the label’s beauty categories including makeup and skin care. #wwdbeauty (📷: @zefashioninsider)
“From concept to creation, my goal was to create beautiful pieces, with a variety of sizes, all at affordable prices,” said @joansmalls of the swimwear and intimate apparel she designed for @smartandsexysocial. The collection includes neon laced bras, sheer bodysuits and swimwear separates. The intimates collection will launch in July, while the swimwear collection will be available for purchase on Tuesday at select @walmart stores, walmart.com and smartandsexy.com. #wwdfashion