Retail stocks underperformed on a down day for Wall Street today.
The S&P 500 Retailing Industry Group fell 1 percent to 890.42 as the Dow Jones Industrial Average fell 0.6 percent to 16,040.56.
But a few bucked the trend, particularly in the jewelry world.
Zale Corp. jumped 40.3 percent to $20.92 on the word that it would be acquired by Signet Jewelers Ltd. for $1.4 billion. Shares of Signet also closed up, rising 18.2 percent to $93.65. Shares of jewelry firm Birks Group Inc., which was not part of the deal, rose 7.3 percent to $1.33.
Also on the rise were Columbia Sportswear Co., up 7 percent to $84.14, and Christopher & Banks Corp., ahead 3.3 percent to $6.50.
Omnichannel teen retailer Delia's Inc. was the biggest decliner for the day. Its shares dropped 7.7 percent to 69 cents a day after the firm disclosed preliminary fourth quarter results that reflected a steep decline in the quarter's sales, a projection of a larger loss for the three months, and plans for a private placement to raise $44.1 million.
New York & Co. also fell 4.5 percent to $4.43, as did Revlon, down 2.7 percent to $23.47.
European stock markets were broadly flat at the close of trading.
The DAX in Frankfurt and the FTSE 100 in London were flat, closing at 9,660.05 and at 6,796.71 respectively. The CAC 40 in Paris edged up 0.2 percent to 4,341.10, while the FTSE MIB in Milan was down 0.2 percent to 20,438.30.
The euro traded at $1.37 against the U.S. Dollar, while the pound fetched $1.67, and the Swiss franc equaled $1.12.
The day’s biggest gainers included Safilo Group, which rose 1.1 percent to 16.96 euros; Luxottica Group, 1.1 percent to 39.55 euros, and Asos.com, 1.9 percent to 66.96 pounds.
Among the stocks that lost the most ground were Brunello Cucinelli, down 2.3 percent to 21.10 euros; Tod’s, 1.9 percent to 99.90 euros, and Ferragamo, 1.1 percent to 23.34 euros.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)