U.S. retailers’ shares tumbled as investors appeared more wrapped up in anxiety over China and Ukraine than in improving results for domestic retail sales.
The S&P 500 Retailing Industry Group logged its fourth consecutive day of declines — and by far the largest in the last week — with a 1.3 percent fall to 919.80. That fell in between the 1.2 percent drop in the S&P 500, to 1,846.34, and the 1.4 percent decline in the Dow Jones Industrial Average, to 16,108.89.
The day began on a hopeful note with retail sales for February rising 0.3 percent, more than anticipated. Apparel and accessories stores sales rose 0.4 percent and department stores gained 0.7 percent, despite a 0.3 percent decline from general merchandise retailers, the classification in which department stores are included.
Among the stocks weathering declines, PVH Corp. was down 5.7 percent to $115.04 while Stein Mart Inc., after reporting fourth-quarter profits that fell less than expected, saw shares drop 4.2 percent to $13.69. More than 40 of the fashion, retail and beauty issues tracked by WWD declined 1 percent or more.
Among just 13 of the stocks in WWD’s sample to advance for the day, Christopher & Banks Corp. registered the biggest increase, rising 8.3 percent to $6.69 after the retailer reported a smaller-than-expected fourth-quarter loss and said it anticipated improved first-quarter gross margins despite “relatively flat” same-store sales.
Inter Parfums Inc. racked up a 2.6 percent increase, to $33.85, after selling off on Wednesday following disclosure of a fourth-quarter loss.
Disappointing economic data from China and the tense situation in Ukraine affected European exchanges as well, with the impact hitting the DAX hardest. The German market fell 1.9 percent to 9,017.79 while the CAC 40 in Paris was off 1.3 percent to 4,250.51. The FTSE 100 in London was down 1 percent to 6,553.78 while the FTSE MIB in Milan suffered least, dipping 0.9 percent to 20,591.82.
Among a handful of retail and luxury stocks to gain were Mulberry Group, up 1.5 percent to 6.61 pounds; Gemfields, 1 percent to 37 pence, and Ted Baker, 0.7 percent to 21.77 pounds.
Shares of Hugo Boss fell 5.1 percent to 90 euros after it reported slower growth in 2013. Marks & Spencer Group was off 3.1 percent to 4.59 pounds; Safilo Group down 5.4 percent to 14.62 euros, and Koovs 6.3 percent lower at 2.10 pounds.
The euro traded at $1.39 against the U.S. dollar while the pound fetched $1.66 and the Swiss franc translated to $1.14.
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
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye