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.
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
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye