Investors appeared to be upbeat about holiday retailing on the last full trading day before Christmas.
The S&P 500 Retailing Industry Group was up 0.4 percent to 935.84 today, just below the 0.5 percent advance registered by both the Dow Jones Industrial Average and S&P 500, which ended trading at 1,827.99 and 16,294.61, respectively.
U.S. markets will have an abbreviated day of trading Tuesday and are scheduled to close at 1 p.m. for Christmas Eve.
Twitter Inc. and Facebook Inc. jumped 7.6 and 4.8 percent, respectively, to $64.54 and $57.77, while Pacific Sunwear of California Inc. logged the largest increase among U.S.-based retailers tracked by WWD, a 7.4 percent advance to $3.50. J.C. Penney Co. Inc. moved ahead 5.5 percent to $8.78.
In the WWD sample of retail, fashion and beauty stocks, decliners were outnumbered by advancers by about a two-to-one margin. Jos. A. Bank Clothiers Inc. and The Men’s Wearhouse Inc. shed 1.3 and 0.7 percent, respectively, to end trading at $56.29 and $51.63. Before trading began Monday, Bank said it had rejected MW’s offer to acquire it for about $1.54 billion.
Tiffany & Co. shares surrendered 0.1 percent of their value, landing at $90.50, following word that it had ordered by a Netherlands arbitration panel to pay Swatch Group $448.6 million following the contentious end of the two companies’ venture to develop Tiffany watches. Swatch shares rose 0.8 percent to 586 Swiss francs, or $653.98 at current exchange, on the Swiss exchange.
Major European indices all finished the day with gains, with London’s FTSE 100 gaining the most, up 1.1 percent to 6,678.61.
The DAX in Frankfurt rose 0.9 percent to 9,488.82, while the FTSE MIB in Milan rose 0.7 percent to 18,697.15 and the CAC 40 in Paris closed up 0.5 percent to 4,215.29.
However it was a more mixed day for fashion, luxury and retail stocks.
Those that notched up gains included Aeffe, which climbed 6 percent to 0.67 euros; Hennes & Mauritz, which rose 1.5 percent to 296 Swedish krona; Compagnie Financière Richemont, up 0.9 percent to 87.70 Swiss francs, and Tod’s, which rose 1.4 percent to 120.30 euros.
Declines hit Brunello Cucinelli, down 1.9 percent to 25.59 euros; Geox, which fell 0.7 percent to 2.63 euros, and Ferragamo, down 1 percent to 27.53 euros.
The pound traded for $1.63 against the dollar Monday, while the euro went for $1.34, the Swiss franc for $1.11 and the Swedish krona for $0.15.
“I think what’s so interesting about the #MeToo movement and this whole new wave of feminism in general, is that women are finally seeing, ’Oh I can start my own company, oh I can lear to code, oh I can leave my nine-to-five job and do the thing I want to do,” said @brooklyndecker ahead of her @sxsw talk for @createcultivate. The former model took the stage to share wisdom about networking and female-driven entrepreneurship. #wwdeye #sxsw (📷: @jgreenery)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech at the @sxsw conference for @createcultivate, the online platform and conference series for women. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.