A boost from Sears Holdings Corp. and Amazon.com helped retail stocks outpaced the market today, pushing the sector up 2.4 percent—its best showing in more than four weeks.
The S&P Retail Index gained 12.71 points to 551.91 as the Dow Jones Industrial Average advanced 0.8 percent, or 96.88 points, to 12,578.95.
Sears had another strong rally, rising 7.5 percent to $39.49. The ailing retailer's stock spiked 9.5 percent Tuesday on rumors of a possible takeover. Amazon was also solid, perking up 4.3 percent to $189.44.
Among the other gainers were Joe's Jeans Inc., up 12.4 percent to 64 cents; Hanesbrands Inc.,6.4 percent to $24.13; Destination Maternity Corp., 5.6percent to $15.73; Fossil Inc., 4.5 percent to $90.49, and Chico's FAS Inc., 4.1 percent to $11.44.
In Europe, markets were broadly flat despite a mixed reading on economies in the region. In the U.K., November unemployment rose to 8.4 percent from 8.3 percent, the highest since January 1996, according to the Office of National Statistics. Greece resumed crucial talks with its creditors and Germany cut its economic growth forecast for 2012 to 0.7 percent from 1 percent.
Paris' CAC 40 fell 0.2 percent to 3,264.93, while Milan's FTSE MIB sank 0.3 percent to 15,278. The FTSE 100 in London and the DAX in Frankfurt fared better, with the former closing up 0.2 percent to 5,702.37, and the latter advancing 0.3 percent to 6,354.57.
Retail and luxury stocks were mostly on the upswing with the day’s biggest gainers including Benetton Group, which climbed 3.6 percent to 3.26 euros; French Connection, which advanced 8.1 percent to 0.43 pounds; and Hermes, which climbed 2.5 percent o 258.95 euros. The euro traded at $1.28 while the pound traded at $1.54.
@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)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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