U.S. retail stocks added to recent gains Monday on news of better-than-expected retail sales in April.
The S&P 500 Retailing Industry Group added 0.2 percent to finish Monday’s trading session at 778.93 after hitting a 52-week high of 780.31 in midday trading. The Dow Jones Industrial Average fell 0.2 percent to 15,091.68 while the S&P 500 finished the day virtually unchanged at 1,633.77.
Strong performers on the stock market included Zale Corp., up 3.5 percent to $5.07; J.C. Penney Co. Inc., up 2.9 percent to $18.24, and Nordstrom Inc. up 2.2 percent to $60.49. The largest declines among retailers came from Jos. A. Bank Clothiers Inc., which lost 7.2 percent, to $42.90, after projecting first-quarter earnings that were substantially below analysts’ estimates, with sales weakening last month. That helped pull shares of The Men’s Wearhouse Inc. down 2.9 percent to $34.48.
European markets retreated from their highest level in almost five years, overshadowing the strong retail data in the U.S. The FTSE MIB fell the farthest, by 0.7 percent to 17,171.52, followed by the CAC 40 in Paris, 0.2 percent to 3,945.20. Frankfurt’s DAX was flat at 8,279.29, while London’s FTSE 100 was ahead 0.1 percent to 6,631.76.
The pound traded at $1.51 against the dollar, the euro $1.31 and the Swiss franc $1.07.
Retail and luxury stocks put on a mixed show, with the day’s biggest gainers including Yoox.com, up 2.8 percent to 16.36 euros; Compagnie Financière Richemont, 1 percent to 80.25 Swiss francs, and Marks & Spencer, 0.8 percent to 4.24pounds.
Among the stocks falling in value were Asos.com, down 1.2 percent to 34.28 pounds, and Ferragamo, 0.9 percent to 23.11 euros.
@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