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.
Assouline is paying homage to the late Azzedine Alaïa with a reprint of "Alaïa Livre de Collection.” The book is comprised of photographs of the designer's summer 1992 runway show with models Christy Turlington Burns, Naomi Campbell and Tyra Banks, pictured here at right. #wwdfashion #alaia #tyrabanks
Fall 2018 accessories take on a painterly hue, with Nebulas Blue among Pantone’s top 10 colors of the season. (📸: @jonghyupstudio ; editor: @twallz21 ; stylist and set designer: @haideefindlaylevin ) #wwdaccessories
@americanapparelusa is relaunching the brand outside of the U.S. today, opening its online store to more than 200 countries. The company is also contemplating a return to brick-and-mortar, though details have not been confirmed. In tandem with the expanded distribution is a recasting of a social media ad campagn, called “Back to Basics,” pictured here, with a focus on diversity and a cast of models above the age of 21. Read more on WWD.com #wwdnews #wwdfashion
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge
Jewelry label @alisonlou has made a name for itself with fine jewelry that speaks to the Millennial market. Now @twallz21 reports that the label is bringing those playful ideas to a new affordable line of lucite hoops with the launch of Loucite by Alison Lou. Here’s a look from the line modeled by @emrata. #wwdaccessories
@sarahjessicaparker and @gilt are teaming up on a bridal ready-to-wear line. Tomorrow, Parker will launch SJP by Sarah Jessica Parker Bridal — and as part of the launch, Gilt will offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear collection that were designed to complement the new line. Made out of 10 styles, the line is designed for a variety of occasions, from bridal showers to receptions. Get more details on WWD.com #wwdfashion