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.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast