Concerns about Michael Kors Holdings Ltd.’s ability to sustain its margins despite strong first-quarter earnings and sales pulled shares down 5.9 percent, contributing to a small decline on the day for the WWD Global Stock Tracker.
WWD’s group of 100 fashion, retail and beauty stocks pulled back just less than 0.1 percent to 97.05 on the day, from 97.15 on Friday.
The most substantial gains in the WWD sample came from a trio of companies traded in Hong Kong. I.T. Ltd. was up 4.1 percent to 2.78 Hong Kong dollars, or 36 cents at current exchange, while Anta Sports Products Ltd. rose 3.6 percent to 13.18 Hong Kong dollars, or $1.70, and Li Ning Co. ascended 3 percent to 4.83 Hong Kong dollars, or 62 cents.
Abercrombie & Fitch Co. had the best day among U.S. based firms, with shares gaining 2.7 percent to close at $39.44. Pandora A/S rounded out the five best gains, rising 2.4 percent to 385.90 Danish kroner, or $69.49.
The sell-off of Kors stock lowered its closing price to $77.01 and represented the largest decline among equities tracked by WWD’s tracker. Also in the losing column were American Apparel Inc., off 5.6 percent to 85 cents; J.C. Penney Co. Inc., 4.1 percent to $9.24; Salvatore Ferragamo Italia SpA, 3.4 percent to 19.54 euros, or $26.24, and The Bon-Ton Stores Inc., 3 percent to $9.43.
Kors’ net income in the first quarter ended June 28 rose 50.2 percent, to $187.7 million, as revenues grew 43.4 percent to $919.2 million.
Coach Inc. is scheduled to report its fourth-quarter and full-year results Tuesday. Shares closed at $34.31, up 1.8 percent.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)