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.
“I design by visualization. I see things, and most of the time they’re not practical to actually make, and what I’ve found here, it’s like anything’s possible. This is the first time that I’ve made a sole unit in two months. That process usually would take six, so here’s a difference,” said @virgilabloh of the first sneaker sample he created for @louisvuitton, pictured here. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion (📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)