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.
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
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
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)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@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