Retail shares managed to post a small gain today, logging only their seventh positive trading session for the year. After two-straight sessions with losses of more than 2.5 percent, the S&P 500 Retailing Industry Group finished up 0.3 percent to 848.09. However, it lagged behind the S&P 500 and Dow Jones Industrial Average, which reversed recent losses with gains of 0.8 percent and 0.5 percent, respectively, to close at 1,755.20 and 15,445.24. Michael Kors Holdings Ltd. led the pack among the day’s fashion winners, gaining 17.3 percent to close at $89.91 after reporting third-quarter net income that exceeded analysts’ expectations by 25 cents a diluted share. On the other side of the ledger, J.C. Penney Co. Inc. closed off 10.6 percent at $5.08 and hit a 52-week low of $4.90 in midday trading after reporting a 2 percent gain in fourth-quarter comparable-store sales that suggested its comps in December and January had actually declined. Fossil Group Inc. rebounded after a 3.4 percent decline Monday with a 6.1 percent increase to $114.57, while Tumi Holdings Inc. joined the accessories gainers for the day with a 2.8 percent increase to $20. Joining J.C. Penney among equities losing large chunks of value were Coldwater Creek Inc., down 17.6 percent to 70 cents, and American Apparel Inc., off 13.5 percent to 85 cents. While reticence about emerging markets, China’s economy and U.S. corporate earnings lingered from the sell-offs of recent days, investors took advantage of stocks that have been driven down in price since the start of the year. The S&P 500 is 5 percent off its endpoint in 2013 and the retail index down 9.8 percent. Europe’s stocks put on a mixed performance, with markets in London and Frankfurt down and those in Paris and Milan ahead. The DAX in Frankfurt shed 0.6 percent to 9,127.91, while London’s FTSE 100 dipped 0.2 percent to 6,455.61. In contrast, the FTSE MIB in Milan managed to gain 0.6 percent to 19,019.71 while the CAC 40 in Paris closed up 0.2 percent to 4,117.45. The decliners included Esprit, down 3.8 percent to 14.08 Hong Kong dollars; Gemfields, off 5.6 percent to 34 pence; Luxottica, down 1.7 percent to 38.39 euros, and Safilo Group, off 1.7 percent to 16.55 euros. Those on the rise included Yoox, which climbed 6.6 percent to 29.78 euros; Ferragamo, which rose 1.6 percent to 22.44 euros, and Burberry, up 2 percent to 14.35 pounds. The pound traded for $1.64 versus the U.S. dollar, while the euro went for $1.35 and the Hong Kong dollar for 13 cents.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim