Ann Inc., warning of second-quarter results that fell far short of earlier guidance, lost the most ground on a day when the WWD Global Stock Tracker declined after two days of gains.The Tracker surrendered 0.8 percent to end the day at 96.92. The percentage drop was the third largest since WWD’s monitor of 100 major fashion, luxury, retail and beauty stocks around the world was inaugurated on July 8.Ann Inc. warned this morning that second-quarter sales fell far short of the $648 million it had projected in its initial quarterly guidance, set on May 30, for sales of $670 million. Hurt by the weak performance of knit tops in its Loft division, corporate gross margin is expected to come in at 52.4 percent of sales, 110 basis points below guidance.Shares ended the day at $36.02, 5.3 percent below their end point on Wednesday. The second-largest fall came from The Bon-Ton Stores Inc., with shares off 5.1 percent to $9.19, followed by Ann’s rival missy retailer, Chico’s FAS Inc., off 4.9 percent to $15.30.Adidas fell 4.5 percent to 55.50 euros, or $74.24 at current exchange, and American Apparel Inc. was down 4 percent to 88 cents.A smaller group of equities with gains was led by Trinity Ltd., up 3.1 percent to 1.98 Hong Kong dollars, or 26 cents, and Anta Sports Products Ltd., up 2.5 percent to 14.60 Hong Kong dollars, or $1.88.J.C. Penney Co. Inc.’s shares were up 2.5 percent to $9.20, while L Brand Incs Inc, advanced 2.4 percent to $60.62. L Brands impressed Wall Street with its report that corporate comps were up 6 percent in July, in between Victoria’s Secret Stores gain of 5 percent and Bath & Body Works’ 7 percent rise.Yoox.com shares rose 2.4 percent to 17.87 euros, or $23.90.
Exclusive: @dsquared2 signs fragrance licensing agreement with Euroitalia, with the first effort of the new partnership being unveiled in September. The brand will launch two scents – one for men and one for women – in Italy. Read our interview with designer Dean and Dan Caten on WWD.com. #wwdbeauty #wwdnews (📷: @zefashioninsider)
@louisvuitton has officially renewed Nicolas Ghesquière’s contract as artistic director of women's collections. "I am very pleased to open the next chapter of the story I started with Louis Vuitton almost 5 years ago," said Ghesquière, who first signed on to design the French luxury brand's women's line in 2013. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @giovanni_giannoni_photo)
“I learned then and there that I had to figure out a way in life to maintain and preserve my sense of pride when I felt good about what I did or what I represented or created,” said @saintrecords on how being bullied for wearing capri pants inspired her to be the artist she is today. Knowles was at the 70th Parsons Benefit last night where she outbid the room for a Dapper Dan customized @gucci experience. #wwdeye (📷: @lexieblacklock)
“There’s this amazing braintrust of people who know the whole universe so well. So we talked to them and they gave us more input,” said actor Alden Ehrenreich on playing the young Han Solo in “Solo: A Star Wars Story.” The cast was at NYC’s SVA Theatre last night for an advanced screening of the film, which hits theaters this week. #wwdeye #starwars #hansolo (📷: @aurorarosedecrosta)
@asaprocky spent nearly two hours in a Plexiglas box Sunday night at @sothebys putting himself through a series of “tests” to demonstrate the process of completing his new album called “Testing.” Get all the details and see all the pictures on WWD.com. #wwdeye
“I’ve struggled my whole life to find a bathing suit that fits me that doesn’t look like a maternity bra. I’m proud of the line because it’s an accurate representation of me rather than me putting on someone else’s clothes,” says @atlantabean of her swimwear collaboration with @piaarrobio, LPA X ATL. The two decided on a swimwear collab and increased the industry standard size for the pieces. Read more about the line — and our interview with de Cadenet Taylor and Arrobio — on WWD.com #wwdfashion
Exclusive: Cate Blanchett has been named the first global beauty ambassador for @armanibeauty. Blanchett has been the face of the brand’s Sì fragrance franchise since 2013, and is now representing all of the label’s beauty categories including makeup and skin care. #wwdbeauty (📷: @zefashioninsider)