The major global indices ended the week’s trading sessions down on Friday, mostly due to concerns over the economic recovery. U.S. jobs data was weaker than expected, showing the slowest pace of hiring in nine months. Compounding the concerns were other data points earlier this week that suggested a possible slowdown, such as the U.S. factory activity report for March, which grew at the slowest rate in three months. Now the focus next week will be on the start of earnings season, when some companies begin reporting their first-quarter results. In Asia, the Nikkei 225 in Tokyo closed up 1.6 percent to 12,833.64, while Hang Seng Index in Hong Kong was down 2.7 percent to 21,726.90.
The major European stock market indices lost ground at the close of trading Friday, dented by the downbeat jobs data from the U.S.
The FTSE MIB in Milan was the only market that edged up, 0.6 percent to 15,250.42. The DAX in Frankfurt sank 2 percent to 7,658.75; the CAC 40 in Paris 1.7 percent to 3,663.48; and the FTSE 100 in London 1.5 percent to 6,249.78.
Retail and luxury stocks were mostly down, with the day’s biggest decliners including Mulberry Group, which fell 4.1 percent to 9.30 pounds; PPR, which later this year will change its name to Kering, 4.2 percent to 165.35 euros; The Swatch Group, 4.3 percent to 90.20 Swiss francs, and LVMH Moët Hennessy Louis Vuitton 3.4 percent to 129.90 euros.
Among the few stocks that gained ground were Safilo Group, up 3.5 percent to 10.50 euros, and French Connection Group, 4.3 percent to 31 pence.
In the U.S., the Dow Jones Industrial Average dipped 0.3 percent to 14,565.25, rebounding from an intraday decline to as low as 14,434.43 following the initial jobs report. The S&P 500 Retailing Industry Group fell 0.7 percent to 724.55, rebounding from a intraday low of 718.58.
Of the retail stocks, shares of Pacific Sunwear of California Inc. fell the most, losing 4.8 percent to $2.17, followed by Christopher & Banks Corp., down 4.2 percent to $6.12. Also down was Bluefly Inc., falling 4 percent to 72 cents.
Bebe Stores Inc. bucked the trend, rising 6.2 percent to $4.48. Bon-Ton Stores Inc. also showed gains, up 3.2 percent to $13.19.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
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
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“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