U.S. retail stocks closed the week’s opening sessions with gains after dwelling in minus territory for much of the day.
At the close, the S&P 500 Retailing Industry Group eked out a 0.2 percent gain to end the session at 853.29. That was a stronger upswing than the 0.1 percent advance recorded by the Dow Jones Industrial Average, which closed at 16,511.86 and below the 0.4 percent increase produced by the S&P 500, which closed at 1,885.08.
Following disappointing earnings reports from many broadline retailers last week and in advance of results from specialty and off-price stores, stocks treaded water for most of the day before gaining momentum later in the session.
The Bon-Ton Stores Inc., which is slated to report first-quarter results on Thursday, paced the fashion, retail and beauty stocks tracked by WWD with a 6.3 percent increase to $10.77. Stein Mart Inc., also scheduled to report its Q1 results on Thursday, gained 2.5 percent to $13.39. Outside the retail sector, shares of Revlon Inc. added 3.6 percent to close at $30.44.
Shares of J.C. Penney Co. Inc. and Nordstrom Inc. suffered some of the steepest declines, falling 3.8 and 3 percent, respectively, to $9.36 and $68.42.
Shares of Urban Outfitters Inc. were off 0.1 percent to $36.17 during the regular trading session. They shed an additional 3.8 percent after market closed following a first-quarter report in which profits were down slightly more than expected on continuing weakness at the Urban Outfitters brand.
In Europe, Milan’s FTSE MIB was down 1.6 percent to 20,318.46, followed by the FTSE 100 in London, off 0.2 percent to 6,844.55. However, the DAX in Frankfurt and the CAC 40 in Paris were both up 0.3 percent to 9,659.39 and to 4,469.76, respectively.
Retail and luxury stocks were mostly down, with a few exceptions. Among the day’s biggest declines were Koovs’ 5.6 percent descent to 1.53 pounds; Yoox Group’s 3.4 percent slip to 20.90 euros; Bonmarche Holding’s 7.8 percent drop to 2.60 pounds, and Aeffe’s 3.2 percent drop-off to 1.05 euros.
Among the few stocks that did gain ground were Hermès, 2.2 percent to 260 euros; Tod’s, 1.7 percent to 101.50 euros, and Gemfields, 1.3 percent to 40 pence.
The euro traded at $1.37 against the U.S. dollar, while the pound fetched $1.68 and the Swiss franc equaled $1.12.
For its next men’s wear collection, @roberto_cavalli will show as a special guest at #PittiUomo, running from June 12-15. The brand, which has Florence in its roots, will relaunch its men’s wear collection, which will be presented separately from women’s wear for the first time since Paul Surridge was appointed creative director in May. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech at the @sxsw conference for @createcultivate, the online platform and conference series for women. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
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“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.