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 Yoox.com, 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.
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
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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)
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@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