Continuing doubts about recent retail sales trends and first-quarter earnings that will arrive later this month pressured retail stocks down for the third straight day.
The S&P 500 Retailing Industry Group fell 5.85 points, or 0.7 percent, to 837.25, compounding losses in Tuesday’s 2.3 percent slide.
The Dow Jones Industrial Average and S&P 500 returned to positive territory after declines on Tuesday, however. The Dow moved ahead 0.7 percent to 16,518.54 while the S&P 500 gained 0.6 percent to end the day at 1,878.21. The Nasdaq retreated 0.3 percent to 4,067.67 on a day that saw small-cap stocks pull back.
Leading those with gains in the retail sector was J.C. Penney Co. Inc., up 7.8 percent to $8.72, followed by Sears Holdings Corp., which advanced 2.9 percent to $41.74 on the day after an annual meeting in which Edward Lampert, chairman and chief executive officer, discussed efforts to transform the company, including cutting back on the size of apparel assortments at Sears stores.
Among retail, fashion and beauty issues tracked by WWD, International Flavors & Fragrances Inc. was the only other stock to advance as much as 2 percent, gaining exactly that percentage to close at exactly $100.
Shares of Cache Inc. were off 9.7 percent to $2.32, the largest decline in the WWD sample, followed by The Wet Seal Inc.’s 6.4 percent sell-off, to $1.03, and Delia’s Inc.’s 5.6 percent tumble to 85 cents.
The principal markets in Europe diverged, with Frankfurt’s DAX up 0.6 percent to 9,521.30 and Paris’s CAC 40 ahead 0.4 percent to 4.446.44.
The FTSE 100 in London was down a fraction to 6,796.44 while Milan’s FTSE MIB dropped 1.3 percent to 21,240.74.
Retail and luxury stocks were also uneven, with the day’s biggest declines including Asos.com, off 6.5 percent to 38.98 pounds; Yoox Group retreating 6 percent to 23.20 euros; French Connection Group down 3.1 percent to 89 pence, and Boohoo.com down 2.5 percent to 53 pence.
Stocks on the upswing included Metro AG, 2.3 percent to 28.15 euros; Gemfields, 1.3 percent to 40 pence, and Carrefour SA, 1.2 percent to 26.50 euros
The euro traded at $1.39 against the U.S. dollar while the pound fetched $1.69 and the Swiss franc equaled $1.14.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)