The political dynamic in Europe continued to fixate investors, who pushed stocks down today.
The U.S.-centric S&P Retail Index fell 0.5 percent, or 2.83 points, to 626.61, as the Dow Jones Industrial Average fell for the sixth-straight day, dropping 0.8 percent, or 97.03 points, to 12,835.06.
Macy's Inc. dropped 3.7 percent to $38.05 when its disappointed investors by not raising its annual profit guidance after a strong first quarter. Other decliners included Vera Bradley Inc., down 1.8 percent to $24.49; Coach Inc., 1.7percent to $69.58; Tumi Holdings Inc., 1.8 percent to $22.49, and Ralph Lauren Corp., 1.5 percent to $160.94.
It remains unclear how the French president-elect Francois Hollande and his anti-austerity, pro-growth platform will play with the austerity-loving Germans, and whether Greece will remain in the euro zone.
Greeks will likely be called to the polls once again since elections over the weekend were inconclusive. The country has voiced its opposition to more austerity measures, and leaders have threatened to renege on the belt-tightening promises made to secure bailout funds and keep the country afloat.
Except for the DAX in Frankfurt, which climbed 0.5 percent to 6,475.31, European markets sank for the day. The German market benefited from a 0.9 percent rise in March exports, the third in three months, thanks mainly to non-European Union countries, according to Germany’s Federal Statistics Office.
The FTSE MIB in Milan led the market slide, falling 1.2 percent to 13,771.82, while the FTSE 100 in London sank 0.4 percent to 5,530.05 and the CAC 40 retreated 0.2 percent to 3,118.65.
The day’s biggest gainers included Asos.com, which climbed 2.1 percent to 14.75 pounds; Beiersdorf, 1.3 percent to 52.27 euros; Mulberry Group, 2.1 percent to 23.02 pounds, and Hermès International, 1.2 percent to 268.80 euros.
Among the stocks that lost groundwere Brunello Cucinelli, which sank 3.5 percent to 10.65 euros; Geox, 1.8 percent to 2.28 euros, and Ferragamo, 1.6 percent to 16.75 euros.
The euro traded at $1.30 while the pound traded at $1.61.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast