A relief rally from American Eagle Outfitters Inc. and a rebound at Elizabeth Arden Inc. led the WWD Global Stock Tracker up 0.2 percent to 99.91 today.
American Eagle’s stock jumped 12 percent to $12.98 after the company reported a 70.3 percent drop in second-quarter profits, which were still not as bad as projected. And Elizabeth Arden Inc. regained 11.1 percent to $16.72 after the stock fell 23 percent Tuesday following an investment from Rhône Group LLC that could dilute other shareholders.
Markets were generally up in the U.S., with the Dow Jones Industrial Average gaining 0.3 percent to 16,979.13 in New York, but down in Europe, where London’s FTSE 100 fell 0.4 percent to 6,755.48.
The weakest stock in the 100-issue fashion tracker was Luxottica Group SpA, which slipped 3.8 percent to 39.07 euros, or $52.04. There were numerous newspaper reports that Andrea Guerra, chief executive, is close to leaving the eyewear group after differences of opinion with founder and chairman Leonardo Del Vecchio.
Luxottica issued a statement saying, “The group is not commenting on today’s media speculation. At present no board meeting has been called. We can confirm that for some time the Chairman Leonardo Del Vecchio and the cel Andrea Guerra have been debating the best strategic direction for the group.” —With contributions from REUTERS
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)