U.S. retail shares eked out small gains Thursday as the major indices logged declines.
The S&P 500 Retailing Industry Group closed at 894.63, up 0.1 percent, ahead of the S&P 500’s 0.4 percent drop to 1,756.54. The Dow Jones Industrial Average was down slightly more, off 0.5 percent to 15,545.75. Still, the S&P finished ahead 4.5 percent during October versus the Dow’s monthly advance of 2.8 percent.
Among issues tracked by WWD, Avon Products Inc. suffered the greatest sell-off by far, with shares contracting 21.9 percent to $17.50 after the firm reported a net loss and lower revenues for the third quarter. Complicating matters, it disclosed that it could wind up paying significantly more than the $12 million it offered in June to resolve its potential violations of the Foreign Corrupt Practices Act. That offer was rejected by the Department of Justice and Securities and Exchange Commission, Avon said.
Shares of the Estée Lauder Cos. Inc. fell 0.6 percent to $70.96. The company reported first-quarter profits rose modestly but exceeded analysts’ expectations.
On the other end of the stock spectrum, shares of Hanesbrands Inc. were up 6.9 percent, to $68.12 following the company’s report late Wednesday of better-than-expected third-quarter profits and increases in its guidance for the current fiscal year and 2014.
Earlier in the day, Europe's markets closed mostly up. The European Union statistics office in Luxembourg said in a preliminary estimate that the region’s inflation slowed to the lowest level in almost four years in October. The annual rate fell to 0.7 percent, the least since November 2009, from 1.1 percent in September.
The DAX in Frankfurt was up 0.3 percent to 9,033.92, Paris' CAC 40 increased 0.6 percent to 4,299.90 and the FTSE MIB in Milan rose 0.1 percent to 19,351.52. The FTSE 100 in London dipped 0.7 percent to 6,731.43.
The euro traded at $1.37 against the dollar and the pound was worth $1.60.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@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)