American Apparel Inc.’s shares rose 15 cents, or 28.7 percent, to 68 cents as U.S. retail stocks returned to winning form.
The S&P 500 Retailing Industry Group rose 0.4 percent to 890.01, slightly better than the Dow Jones Industrial Average’s 0.3 percent advance to 16,867.51 but not quite up to the 0.5 percent pick-up registered by the S&P 500, which ended the day at 1,959.53.
The largest gain by far among the retail, fashion and beauty issues tracked by WWD came from American Apparel as ousted founder Dov Charney, who retained 27.2 percent of the company’s shares, filed for arbitration in his dispute with the firm. The rise essentially erased the 14-cent decline in shares on Tuesday.
Christopher & Banks Corp. logged the second biggest gain among the WWD sample, rising 9.8 percent to $9.04, while Hanesbrands Inc. shares added 9.2 percent, to close at $96.72, after disclosing that it had reached an agreement to acquire DBApparel, the French underwear firm.
Declines included Cache Inc.’s 3.2 percent drop to $1.53 and Movado Group Inc.’s 3 percent decline to $41.92.
European stock markets closed on a down note on Wednesday, with the CAC 40 in Paris leading the retreat.
The French market slipped 1.3 percent to 4,460.60, followed by the FTSE 100 in London and the FTSE MIB in Milan, which both fell 0.8 percent to 6,733.62 and 21,469.10, respectively. The DAX in Frankfurt dipped 0.7 percent to 9,867.75.
Retail and luxury stocks were mostly down, with exceptions including Carrefour SA, up 2 percent to 26.88 euros; Mulberry Group, up 1.7 percent to 7.38 pounds; Metro AG, 1.5 percent to 31.67 euros and Moncler, 1.4 percent to 12.10 euros.
Among the stocks that fell the most were Gemfields, 3.9 percent to 49 pence; Boohoo.com, 2.3 percent to 44 pence; Asos.com, 2.1 percent to 28.42 pounds; Koovs, 1.8 percent to 1.40 pounds, and Marks & Spencer Group, 1.8 percent to 4.26 pounds.
The euro traded at $1.36 against the U.S. dollar while the pound fetched $1.70 and the Swiss franc equaled $1.12.
“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