Retail stocks inched up on Wall Street today, but Aéropostale Inc. got whacked, falling 20.2 percent to $8.76, after the company posted a $33.7 million second-quarter loss and a weak outlook late Thursday.
Aéropostale, like other teen retailers Abercrombie & Fitch Co. and American Eagle Outfitters Inc. struggled to find traction in the second quarter as retail overall took a turn for the worse.
Even so, stocks in the sector have generally been strong. The S&P 500 Retailing Industry Group increased 0.2 percent, or 1.41 points, to 822.43 today as the Dow Jones Industrial Average advanced 0.3 percent, or 46.77 points, to 15,010.51. Retail stocks are up 25.9 percent so far this year, versus the Dow’s 14.6 percent rise.
Gaining for the day were Destination XL Group Inc., up 6.5 percent to $6.19 after the company reported progress in its namesake brand despite a second-quarter loss, and Ann Inc., up 5.2 percent to $34.31 after a 16 percent gain in quarterly net profits. Also rising were J.C. Penney Co. Inc., up 2.3 percent to $13.50; Under Armour Inc., 1.3 percent to $73.16; Tiffany & Co., 0.6 percent to $82, and Michael Kors Holdings Ltd., 0.5 percent to $72.57.
In Europe, markets closed the week on an up note after a report showed that consumer confidence across the region increased more than expected in August. British GDP also expanded more than initially recorded in the first quarter.
The FTSE 100 in London grew 0.7 percent to 6,492.10 while Paris’ CAC 40 was up 0.3 percent to 4,069.47, and the FTSE MIB in Milan and Frankfurt’s DAX climbed 0.2 percent, to 17,342.25 and 8,416.99, respectively.
The pound traded at $1.51 against the dollar, the euro $1.31.
Among the fashion world gainers were Marks & Spencer, up 3.2 percent to 4.72 pounds; Asos, 1.4 percent to 49.34 pounds, and Safilo, 1.2 percent to 13.59 euros.
Losing ground were Yoox, down 2.2 percent to 24.50 euros; L’Oréal, 1.5 percent to 125.60 euros, and Inditex, 1.1 percent to 102.35 euros.