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.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@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)