U.S. retail stocks retook the high ground on Wall Street today.
The S&P 500 Retailing Industry Group gained 1.4 percent, or 10.21 points, to 755.56 as trading settled, setting a new all-time record of 758.73 in midday trading.
Retail was bullish versus the broader market. The Dow Jones Industrial Average ended up 0.2 percent, or 24.50 points, to 14,700.80.
First time jobless claims fell by 16,000 last week to 339,000. That drop was much bigger than the 4,000 decline economists projected and a hopeful signal from the job market for investors.Gaining ground in the fashion world were Michael Kors Holdings Ltd., up 5.7 percent to $56.56; The Bon-Ton Stores Inc., 5 percent to $14.38; Sears Holdings Corp., 4.5 percent to $50.52; Aéropostale Inc., 4.2 percent to $14.07, and Guess Inc., 4.1 percent to $26.99.
Most European stock markets were also on the rise.
The DAX in Frankfurt advanced 1 percent to 7,832.86, as the FTSE MIB in Milan gained 0.5 percent to 16,649.75, and the FTSE 100 in London rose 0.2 percent to 6,442.59.
Running countertrend was the CAC 40 in Paris, which fell 0.1 percent to 3,840.47.
Among the gainers was Compagnie Financière Richemont, parent of Cartier, Alfred Dunhill and Van Cleef & Arpels. The stock climbed 2.4 percent to 76.35 Swiss francs, basking in the afterglow of news earlier this week that net profits for the year would rise 30 percent, with help from favorable currency movements.
Ferragamo advanced 2.6 percent to 23.11 euros while Metro AG was up 1.4 percent to 23.25 euros. Among the stocks that saw the biggest declines was Asos.com, down 1.7 percent to 30.81 pounds. The euro traded at $1.30 against the dollar while the pound fetched $1.53 and the Swiss franc went for $1.06.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews