Retail shares finished a strong week with small gains.
The S&P 500 Retailing Industry Group rose 0.2 percent to 898.42, underperforming the broader market while still rising 1.4 percent for the week and cutting its decline for the year to 4.4 percent.
The Dow Jones Industrial Average closed up 0.8 percent at 16,154.39 while the S&P 500 picked up 0.5 percent to 1,838.63. Both gained 2.3 percent during the course of the week, reducing their declines in 2014 to 2.6 and 0.5 percent, respectively.
Investors weren’t swayed by Thursday’s report of lower retail sales in January, content to attribute it to the wintry weather that has brought traffic nearly to a standstill in much of east, and were encouraged by the Thomson Reuters/University of Michigan consumer sentiment survey showing the metric unchanged since January.
Among U.S. fashion, retail and beauty issues tracked by WWD, Coty Inc. generated the largest increase, with shares up 7.4 percent to $14.74 after the company projected top-line improvement in the second half of the year after a difficult second quarter. Vera Bradley Inc. shares rose 2.7 percent to $24.83 while J.C. Penney Co. Inc.’s shares closed above $6 for the first time in February with a 2.5 percent increase to $6.14.
However, shares of The Men’s Wearhouse Inc. receded 5.3 percent to $44.07 following Jos. A. Bank Clothiers Inc.’s agreement to purchase the parent of Eddie Bauer for $825 million in cash and stock. MW had been pursuing an acquisition of Bank, shares of which rose 0.4 percent to $55.12, through a tender offer to its shareholders.
VF Corp. fell short of analysts’ expectations for both fourth-quarter growth and 2014 guidance, sending its shares down 5.1 percent to $56.85, while Oxford Industries Inc. pulled back 3.7 percent on a fourth-quarter profit warning issued late Thursday. Sears Holdings Corp. shares closed down 4.6 percent at $41.44.
Major European markets were up for both the day and the week, with the CAC 40 in Paris and DAX in Frankfurt crossing into positive territory for the year. London’s FTSE 100 remains down for 2014 while the FTSE MIB in Milan had been ahead going into the week.
On the day, the FTSE MIB was up 1.6 percent to 20,436.47, the DAX gained 0.7 percent to 9,662.40, the CAC 40 rose 0.6 percent to 4,340.14 and the FTSE 100 picked up 0.1 percent to to 6,663.62. For the week, the DAX was up 3.9 percent, the FTSE MIB up 3.8 percent, the CAC 40 up 2.7 percent and the FTSE 100 up 1.4 percent.
Top performers for the day included French Connection, up 4.3 percent to 48 pence, and Tod’s, up 4.3 percent to 102.60 euros. Among those registering declines were Debenhams, 2 percent to 74 pence, and Luxottica, 1.5 percent to 38.85 euros.
The euro ended the week trading at $1.36 versus the U.S. dollar while the pound brought $1.66 in exchange.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye