Retail stocks avoided an eighth straight day of declines as the S&P Retailing Industry Group added 0.5 percent.
The positive move still left the retail index down 3.3 percent for the week and off 5.5 percent for the year as cautious guidance from many fashion and retail firms has left investors unsure of the path ahead for these equities.
A late drop in biotech stocks reduced gains on the major indices. The S&P 500 rose 0.5 percent to 1,857.62, leaving it ahead 0.5 percent for the year but down the same percentage for the week, and the Dow Jones Industrial Average ended with a 0.4 percent gain to 16,323.06, up 0.1 percent for the week but down 1.5 percent so far in 2014.
Firms that have recently pleased Wall Street with better-than-expected fourth-quarter results and 2014 guidance were among the winners Friday. Vince Holding Corp. shares picked up 8.1 percent to close at $25.69 and Oxford Industries Inc., in its first session since reporting an earnings “beat” late Thursday, added 3.2 percent to close at $76.28.
While gainers outnumbered losers by about a three-to-one margin among issues monitored by WWD, Birks Group Inc.’s shares declined 7.6 percent to $1.10 while American Apparel Inc. pulled back 4.1 percent to 48 cents. J.C. Penney Co. Inc. shares were down 1.6 percent to $8.83.
Europe’s markets rallied earlier in the day after Chinese premier Li Keqiang said the government would invest in the country’s infrastructure to boost its economy.
The FTSE MIB in Milan led the way, rising 1.5 percent to 21,498.24, followed by the DAX in Frankfurt, up 1.4 percent to 9,587.19. The CAC 40 in Paris was up 0.7 percent to 4,411.26, while the FTSE 100 in London gained 0.4 percent to 6,615.58.
It was a largely positive day for fashion, luxury and retail stocks, though a few issues stumbled.
Boohoo.com fell 8.1 percent to 51 pence, while its fellow online retailer Koovs fell 3.8 percent to 1.78 pounds. Hennes & Mauritz closed down 1.6 percent to 273 Swedish kronor after its first-quarter profits disappointed investors Thursday, while Esprit lost 1.4 percent to 12.90 Hong Kong dollars.
Those that gained ground included Safilo Group, up 3.1 percent to 15.70 euros; Mulberry, up 1.9 percent to 7.17 pounds; French Connection, which climbed 11.1 percent to 65 pence, and Prada, which closed up 2.9 percent to 61.05 Hong Kong dollars.
The pound traded for $1.66 against the U.S. dollar, while the euro went for $1.38, the Hong Kong dollar for 13 cents and the Swedish krona for 15 cents.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
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