Shares of Amazon.com Inc. and LVMH Moët Hennessy Louis Vuitton logged significant declines as investors digested their financial results and navigated declining stock markets in the U.S. and Europe.
Shares of the Amazon fell 9.7 percent to $324.01 after the company said late Thursday that its second-quarter losses widened to $126 million even as sales shot up 23.2 percent to $19.34 billion.
Amazon has been working hard to gain share in a broad range of businesses and has sought to boost its apparel profile, opening a photo studio in Brooklyn and advertising its fashion offerings.
The WWD Global Stock Tracker fell 1.1 percent to 98.65 and was led down by LVMH, which slipped 6.8 percent to 131.65 euro, or $177.27, after the luxe company saw a first-half chill in it’s Asian markets. LVMH’s profits dipped 4.3 percent for the first half to 1.51 billion euros, or $2.07 billion.
Inter Parfums Inc.’s stock fell 5.1 percent to $26.95, and Kering slipped 4.9 percent to 151.50 euro, or $203.99, rounding out the top thee decliners in the 100-issue Tracker.
The Dow Jones Industrial Average slipped 0.7 percent to 16,960.57 while European markets were led down by the CAC 40 in Paris, off 1.8 percent to 4,330.55.
In Asia, Tokyo’s Nikkei 225 rose 1.1 percent to 15,457.87 and Hong Kong’s Hang Seng Index gained 0.3 percent to 24,216.01.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive
For @simonerocha_‘s fall show, hairstylist @jamespecis created a look inspired by the painter John Constable. Models’ hair was pulled back, tied into knots and topped off with a bow. (📷: @kukukuba) #wwdbeauty #lfw
Queen Elizabeth made a surprise appearance at @richardquinn1's London Fashion Week show to present the designer with the inaugural Queen Elizabeth II Award for British Design. The new award will be handed out annually to an emerging British fashion designer who shows exceptional talent, while demonstrating value to the community and sustainable policies. #wwdfashion #lfw (📷: @giovanni_giannoni_photo)