U.S. retail stocks concluded a strong year on a fittingly positive note today.
The S&P 500 Retailing Industry Group moved up 0.6 percent to 939.80, locking in a 43.9 percent gain for 2013, a year in which virtually all sectors of the fashion, retail and beauty sectors but teen specialty retailers enjoyed strong gains virtually without interruption.
The Dow Jones Industrial finished the last trading session of the year at 16,576.66, up 0.4 percent for the day and 26.5 percent for the year. The S&P 500 was also up 0.4 percent, to 1,848.36, to end 2013 with a 29.6 percent climb. It was the strongest annual performance of the century for both indices.
Markets were buoyed by word from The Conference Board of an improvement in its Consumer Confidence Index, which picked up to 78.1 in December from 72 in November and exceeded economists’ expectations.
Among the U.S.-based equities tracked by WWD, the year’s best performer turned in the day’s worst showing. Zale Corp., a leader in what has been a vibrant jewelry sector this holiday season, shed 4.4 percent to $15.77 Tuesday but concluded the year up 283.7 percent from its $4.11 close one year ago. The day’s strongest performance came from Birks Group Inc., up 11.8 percent to $1.52.
Twitter Inc. bounced back from two consecutive days of declines to close up 5.2 percent at $63.65.
Despite gains of 3.4 and 2.5 percent from The Wet Seal Inc. and American Apparel Inc., respectively, to $2.73 and $1.23, specialty retailers constituted the majority of issues registering declines. Among the teen specialists, Zumiez Inc. was down 1.8 percent to $26, Pacific Sunwear of California Inc. off 1.2 percent to $3.34, American Eagle Outfitters Inc. off 1.2 percent to $14.40 and Aéropostale Inc. off 1 percent to $9.09.
In Europe, both the DAX in Frankfurt and the FTSE MIB in Milan were closed on New Year’s Eve.
The FTSE 100 in London finished up 0.3 percent to 6,749.09, while the CAC 40 in Paris closed up 0.5 percent to 4,295.95.
Debenhams in London sank 10.8 percent to 0.73 pounds after the retailer issued a profit warning Tuesday. Debenhams said it now expects its profit before tax for the first half of 2014 to be in the region of 85 million pounds, or $140.1 million, versus a profit of 114.7 million, or $189.1 million in the same period in 2013.
The retailer said the expected fall in profits was due to factors including a decline in its gross margins in the 17 weeks to Dec. 28, which it attributed to its product category mix and higher markdowns. The retailer also noted that it “did not experience the anticipated final surge in sales in the last week of the period,” and as a result expects to make further markdowns to clear stock in January and February.
Asos.com fell 1 percent to 61.24 pounds and Next was down 0.4 percent to 54.50 pounds.
Stocks that gained ground included Burberry, which climbed 1.3 percent to 15.16 pounds; French Connection, which rose 5.8 percent to 0.36 pounds, and LVMH Moët Hennessy Louis Vuitton, up 0.3 percent to 132.60 euros.
The euro traded for $1.38 Tuesday, while the pound traded for $1.65.
@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)