U.S. retail stocks closed at another all-time high Monday as the major indices retreated slightly from their recent record-setting closing levels.
On the slowest trading day of the year, the S&P 500 Retailing Industry Group eked out a 0.1 percent pickup, to end the day at 851.10 following Friday’s 850.40 close.
The Dow Jones Industrial Average and S&P 500 stepped back 0.3 and 0.2 percent, respectively, to 15,612.13 and 1,707.14. Like the retail index, the Nasdaq was up 0.1 percent, to 3,692.95 on strong gains from both Facebook and Apple.
The strongest jump among fashion and beauty stocks came from Revlon Inc., up 6.8 percent to $26.16 following the firm’s $660 million acquisition of The Colomer Group and last week’s strong report on second-quarter earnings. The beauty firm hit a new 52-week high of $26.58 in midday trading.
Substantial gains also came from Christopher & Banks Corp., up 3.7 percent to $7, and Perry Ellis International Inc., up 2.5 percent to $20.73. At the other end of the market, Fossil Group Inc. fell 6 percent to $107.42 following Barclays downgrading of the stock to “underweight” from “equal weight.” The company is scheduled to report second-quarter financial results Tuesday morning.
Europe’s markets were little changed at the close of trading, with most indexes slightly down. The FTSE 100 in London dropped 0.4 percent to 6,619.58, despite data showing that services output grew more than forecast in July, Milan’s FTSE MIB slipped 0.2 percent to 16,753.19, Frankfurt’s DAX lost 0.1 percent to 8,398.38, while Paris’ CAC 40 was slightly up by 0.1 percent to 4,049.97.
The pound traded at $1.51 against the dollar, the euro was worth $1.31 and the Swiss franc fetched $1.07.
Retail and luxury stocks were mostly up, with the day’s strongest gainers including Yoox, up 6.5 percent to 24.50 euros; Asos, 4.3 percent to 49.86 pounds, and The Swatch Group, 1.6 percent to 99.85 Swiss francs.
Among the stocks losing ground were Safilo, down 3.3percent to 14.28 euros; Marks & Spencer, 1.1 percent to 4.83 pounds, and Compagnie Financière Richemont, 0.9 percent to 92.15 Swiss francs.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)