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.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)