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.
@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)