Retail stocks gave back gains registered in morning trading — and those achieved in Monday’s session as well — to fall for just the second time in seven days.
The S&P 500 Retailing Industry Group dropped 0.4 percent to 886.89. The Dow Jones Industrial Average and S&P 500 weather steeper descents, falling 0.7 and 0.6 percent, respectively, to 16,818.13 and 1,949.98. The Dow’s fall was its largest in more than a month.
The losses on Wall Street came despite the Commerce Department’s report on new home sales reaching their highest level in six years, The Conference Board’s disclosure of a rise in the Consumer Confidence Index to its highest level since January 2008 and the International Council of Shopping Centers and Goldman Sachs’ word that sales in the week ended June 21 rose 4.1 percent, their largest year-on-year gain in more than a year.
Among fashion, retail and beauty issues tracked by WWD, the largest decline came from American Apparel Inc., shares of which fell 21.4 percent to 53 cents as ousted founder and chief executive Dov Charney opted to seek arbitration in his dispute with the company and the firm was reported to be considering debt or equity offerings to right its debt-heavy finances.
Other declines were less dramatic, including Quiksilver Inc.’s 4.4 percent drop to $3.51, G-III Apparel Group Ltd.’s 3.4 percent dip to $77.63 and Elizabeth Arden Inc.’s 3.1 percent retreat to $27.41. G-III said Monday that it would sell an additional 1.5 million shares of common stock in a public offering while Elizabeth Arden said earlier today that it would undertake a restructuring involving, among other measures, a reduction in head count and the closure of its affiliate in Puerto Rico.
Among about two dozen issues to advance, Delia’s Inc. led the pack with a 9.7 percent increase to 79 cents and Ralph Lauren Corp. gained 1.2 percent to close at $157.90.
Several specialty store chains also managed gains, including Aéropostale Inc., up 1.2 percent to $3.44; American Eagle Outfitters Inc., up 1.1 percent to $11.75; Zumiez Inc., up 1.1 percent to $27.28, and Ascena Retail Group Inc., up 0.6 percent to $17.28.
Markets in Europe held close to their opening marks, with the DAX in Frankfurt up 0.2 percent to 9,938.08 and the CAC 40 in Paris up 0.1 percent to 4,518.34. The FTSE 100 in London and FTSE MIB in Milan surrendered some ground as the London exchange declined 0.2 percent to 6,787.07 and the Milan composite off 0.3 percent to 21,641.24.
Among the largest gains were Mysale Group’s 2.6 percent move to 2.33 pounds and Salvatore Ferragamo’s 2.2 percent pick-up to 20.85 euros.
However, shares of Italia Independent Group were down 4.1 percent to 32.13 euros and Aeffe shares declined 3.4 percent to 1.26 euros.
The euro traded for $1.38 and the pound for $1.65 against the U.S. dollar.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over the top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty