Retail shares ended a four-day winning streak with a 1 percent decline today.
The S&P 500 Retailing Industry Group gave back 8.65 points to end at 900.90, having fallen below the 900 mark earlier in the session.
The major indices held up better as the Dow Jones Industrial Average lost less than a point to end the day at 16,572.55 and the S&P 500 dropped 0.1 percent to close at 1,888.77. The tech-laden Nasdaq lost 0.9 percent to close at 4,237.74.
With the decline in the S&P retailing listing, the index now has split the 64 trading days of the year evenly, with 32 days of gains and an identical number of losses.
A larger-than-expected jump last week in applications for first-time unemployment benefits — to 326,000 from 310,000 in the prior week — may have produced some anxiety among investors as they waited for the March jobs report, expected from the Labor Department Friday.
Shares of Perry Ellis International Inc. gained 3.1 percent to $14.69 despite a net loss and a 16.4 percent decline in sales for the fourth quarter. The results were better than the Miami-based firm’s preliminary report on results on Feb. 24.
Gains were also registered by Express Inc., up 2 percent to $17.04, and Target Corp., up 1.4 percent to $61.72.
Among firms with decreases were Hudson’s Bay Co., off 5.1 percent to 17.86 Canadian dollars after providing guidance for 2014 profits that were below analysts’ views, and Under Armour Inc., off 5.2 percent to $112.66.
Most of Europe’s stock indices were in positive territory at the close of trading, with Milan’s FTSE MIB up 1.4 percent to 21,992.08. The CAC 40 in Paris rose 0.4 percent to 4,449.33 and the DAX in Frankfurt moved ahead 0.1 percent to 9,628.82.
London’s FTSE 100 lost 0.2 percent to 6,649.14.
Fashion, luxury and retail stocks with increases included Burberry, which was one of the FTSE 100’s best performers, rising 3 percent to 14.32 pounds. Online retailer Koovs, meanwhile, climbed 9.5 percent to 1.85 pounds, while Inditex was up 1.7 percent to 112.10 euros and Tod’s gained 1.3 percent to 96.30 euros.
Among the stocks in the sector that lost ground were Asos.com, which fell 3.3 percent to 50.12 pounds, after its disclosure Wednesday of a 21 percent fall in first-half net profits. Fellow online retailers Boohoo.com and Yoox also fell, down 2.6 percent to 55 pence and 2.3 percent to 24.25 euros, respectively.
The pound traded for $1.67 against the U.S. dollar, while the euro went for $1.37 and the Canadian dollar for 90 cents.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)