After earlier gains, Europe’s major indices all closed down when they ended Wednesday’s trading sessions. The FTSE 100 in London dipped 0.1 percent to 5,507.40, while the CAC 40 in Paris was down 1 percent to 3,071.08. The DAX in Frankfurt fell 2 percent to 5,771.27, and the FTSE MIB in Milan slipped 0.9 percent to 14,796.55. Although a successful auction of Italy’s debt earlier on Wednesday initially boosted Europe’s markets, the effect petered out by the end of the day. The Italian government auctioned 9 billion euros’ worth of six-month bills at a yield of 3.25 percent, half the borrowing costs the country had paid on its debt in November. But investors were still said to be concerned over the performance of Italy’s longer-term debt, which is set to be auctioned today. Meanwhile, the borrowing costs on Italy’s 10-year bonds were still high at 7 percent, which is viewed as an unsustainable level for the country. In earlier trading Wednesday in Asia, Tokyo’s Nikkei 225 ended unchanged at 8,423.62, while Hong Kong’s Hang Seng Index declined 0.6 percent to 18,518.67.The U.S. markets were impacted by news from the European Central Bank stating that banks placed $590.72 billion with the ECB overnight, an indication that European banks would rather earn low interest rates than lend to one another, even on a short-term basis. That news pushed the euro down to $1.294, the lowest level against the dollar in 11 months. In the U.S., the Dow Jones Industrial Average fell 1.1 percent to 12,151.41. The S&P Retail Index was also down 1.1 percent, to 524.47. Most U.S. retail stocks fell during a day of relatively light trading, including Sears Holdings Corp., which said Tuesday it would close between 100 and 120 Kmart and Sears full-line stores as it attempts to rejigger operations to cut losses and restore profitability. Shares of Sears fell 0.2 percent, or 5 cents, to close at $33.33.Other retail losers were Abercrombie & Fitch Co., which saw its shares fall 2.4 percent, or $1.19, to $47.99. Shares of Bebe Stores Inc. declined 2.1 percent, or 18 cents, to $8.29. Shares of teen retailer Hot Topic Inc. were down 3 percent, or 21 cents, to $6.82.Among department stores, shares of Macy’s Inc. rose 1.2 percent, or 39 cents, to $32.67, while Kohl’s Corp. ticked up .4 percent, or 22 cents, to $50.09. Another gainer was J.C. Penney Co. Inc., whose shares rose 0.1 percent, or 5 cents, to $35.34.One surprise was American Apparel Inc., whose shares rose nearly 2 percent, or 1 cent, to 76 cents. The biggest gainer for the over-the-counter trading session was Bluefly Inc., up 21.1 percent, or 35 cents, to $2.
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot. #wwdfashion ( 📸: @cjw.photo )
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)
“On a personal level, it’s my vision to create a really different idea with their look to be at the epitome of women’s fashion in South Korea – to create a new milestone,” said stylist @chochowon on dressing K-pop’s most fashionable girl group, @blackpinkofficial. WWD’s @mistywhitesidell sat down with Won ahead of the group’s new album release, “Square Up,” which is out today. Read the full interview on WWD.com. #wwdfashion #blackpink_squareup #blackpink
For @ralphlauren, 2018 is a reason to celebrate: It marks the brand’s 50th year in business. Last year’s chauffeured show in Bedford, NY featuring his vintage car collection may have seemed like the big celebration to show-goers, but they were wrong. The official celebration will be held on September 7 during #NYFW. Get all the details on WWD.com. #wwdfashion (📷: @giovanni_giannoni_photo)