Retail shares began the week with a gain today as the market’s attention turned to company founders trying to work their way back into positions of leadership.
The S&P 500 Retailing Industry Group rose 0.3 percent to 890.72, a better performance than the small declines registered by the Dow Jones Industrial Average and the S&P 500, which both dipped less than 0.1 percent to end the day at 16,937.26 and 1,962.61.
Among the stronger gains among retail, fashion and beauty equities tracked by WWD was Lululemon Athletica Inc.'s 2.5 percent increase to $41.25 following published reports that founder and former chairman Chip Wilson, unsuccessful in his attempt last week to deprive chairman Michael Casey and director RoAnn Costin of reelection to the company’s board, was joining with Goldman Sachs to explore a board shake-up through other means and possibly an acquisition of the firm with private equity partners.
With speculation growing that ousted American Apparel Inc. founder and former chief executive officer Dov Charney might be taking legal action to regain his position, shares of the firm retreated 2.5 percent to 67 cents. The company confirmed Monday that it had hired Peter J. Solomon Co. to advise it while co-chairman Allan Mayer said the company wasn’t for sale.
Larger declines came from Lands’ End Inc., down 3.8 percent to $33.31; J.C. Penney Co. Inc., 3.4 percent to $8.69; Chirstopher & Banks Corp., 3.3 percent to $8.16, and Sears Holdings Corp., 3.1 percent to $39.73.
Penney’s said early in the day that it had closed on $2.35 billion in financing that provides better pricing and later maturities than the facility the new package replaces. The new facility matures in 2019 versus the April 2016 due date for the prior arrangement.
In addition to Lululemon, fashion firms in the plus column for the day included Movado Group Inc., up 3.5 percent to $42.85; The Bon-Ton Stores Inc., up 2.5 percent to $10.53; Ascena Retail Group Inc., up 1.6 percent to $17.18, and Abercrombie & Fitch Co., up 1.3 percent to $43.33.
Earlier in the day, Europe’s markets trended lower, with the FTSE MIB in Milan falling the most, closing down 1.3 percent to 21,694.75. The DAX in Frankfurt fell 0.7 percent to 9,920.92 and the CAC 40 in Paris lost 0.6 percent to 4,515.57. The FTSE 100 in London fell 0.4 percent to 6,800.56.
It turned into a mostly downbeat day for fashion, luxury and retail stocks in the region, too.
Those that fell included Boohoo.com, down 4.7 percent to 45 pence; Debenhams, which lost 3.1 percent to 69 pence; Koovs, down 1.8 percent to 1.40 pounds, and Tod’s, which fell 1.2 percent to 92.65 euros.
Among the few to register gains were Hennes & Mauritz, up 1.7 percent to 294.00 Swedish kroner; The Mysale Group, which rose 2.5 percent to 2.13 pounds, and Mulberry, which climbed 5.6 percent to 7.40 pounds.
The pound traded for $1.70 against the U.S. dollar, while the euro changed hands for $1.36 and the Swedish krona for $0.15.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)