By and  on January 22, 2014

Retail shares posted declines on Wall Street today as Coach Inc. became the latest fashion firm to report softness in its North American stores.

The S&P 500 Retailing Industry Group drifted down 0.2 percent to 909.84, putting its declines for the year so far at 3.2 percent. The S&P 500 managed a 0.1 percent advance, to 1,844.86, while the Dow Jones Industrial Average fell 0.3 percent to 16,373.34.

Among fashion, retail and beauty stocks tracked by WWD, Coach suffered the day’s largest sell-off, shedding 6 percent to $49.38 after reporting second-quarter revenue and earnings results that fell short of Wall Street estimates. The company logged a 9 percent decline in its North American sales, including an 8 percent drop in direct sales.

Coldwater Creek Inc. and Quiksilver Inc. suffered the second and third sharpest declines of the day, falling 4.2 percent to 69 cents and 3.9 percent to $7.62, respectively.

American Eagle Outfitters Inc. shares were off 2.1 percent to $14.31 in regular trading and fell an additional 3.6 percent, to $13.80 in after-hours trading following word that chief executive officer Robert Hanson was leaving the firm and being replaced on an interim basis by chairman Jay Schottenstein.

The day’s winners included Zale Corp., up 5.1 percent to $16, and J.C. Penney Co. Inc., up 4 percent to $6.75.

With the exception of the CAC 40 in Paris, European markets were down at the close of trading. The French market advanced less than 0.1 percent to 4,324.98.

The FTSE MIB in Milan fell 0.2 percent to 19,958.38, followed by the DAX in Frankfurt and the FTSE 100 in London, which were both down 0.1 percent, to 9,720.11 and to 6,826.33, respectively.

The day’s gainers included L’Oréal, up 1.7 percent to 127.75 euros; Unilever, 1.4 percent to 29.90 euros, and Bonmarche Holding, 1.9 percent to 2.89 pounds.

Among the stocks losing ground were French Connection Group, down 5.3 percent to 36 pence; Ferragamo, 2.6 percent to 23.94 euros; Tod’s, 2.5 percent to 111.70 euros, and, 3.9 percent to 29.23 euros.

The euro traded at $1.35 against the dollar, while the pound fetched $1.64, and the Swiss franc equaled $1.10.

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