U.S. retail shares were unable to break out of negative territory as Wall Street's major indices logged solid gains today.
The S&P 500 Retailing Industry Group fell less than 0.1 percent to 922.06 as the Dow Jones Industrial Average picked up 0.7 percent to 16,331.05 and the S&P 500 finished with a 0.6 percent increase at 1,872.01.
Investors shrugged off concerns about the vitality of China’s economy and word Wednesday of continuing reductions in bond buying by the Federal Reserve. Instead, they focused on a 0.5 percent gain in The Conference Board’s tally of leading economic indicators and, courtesy of the Fed, expanded manufacturing activity in the Philadelphia area.
Burlington Stores Inc. led apparel, retail and beauty stocks tracked by WWD with a 15.8 percent increase in its shares, to $29.99, following a solid fourth-quarter earnings beat reported Thursday morning. Cato Corp. shares fell 12.9 percent to $26.21 after it reported a decline in fourth-quarter profits and forecast lower earnings for the first quarter.
“The company believes that 2014 could be another tough year,” the company said in its earnings report. “The sales environment may be difficult due to continuing slow job growth and higher costs which reduce our customers’ discretionary income.”
Shares of Guess Inc. were down 3.4 percent to $27.79 following the company’s guidance late Wednesday for a first-quarter loss. Fourth-quarter profits were down but ahead of analysts’ consensus estimates.
In Europe, markets were largely up at the close of trading.
The FTSE MIB in Milan led the increases, climbing 0.6 percent to 21,094.49, followed by the CAC 40 in Paris, up 0.5 percent to 4,327.91 and the DAX in Frankfurt, which gained 0.2 percent to 9,296.12. Only the FTSE 100 in London was down, falling 0.5 percent to 6,542.44.
Among the stock winners was Mulberry, which climbed 5.3 percent in London to 6.70 pounds following word that the brand’s chief executive officer Bruno Guillon had resigned. During the executive’s tenure, Mulberry had issued a number of profit warnings and had seen its stock price dip.
Next gained 2.3 percent to 67.30 pounds after it reported an 8.8 percent rise in its net profits, to 553.2 million pounds, or $867.9 million, for the year. Ted Baker also rose, up 1.5 percent to 22.38 pounds, after the U.K. retailer recorded a 34 percent surge in net profits in the year ended Jan. 31 to 28.9 million pounds, or $45.1 million.
Among the stocks that fell in were Geox, down 2.4 percent to 3.29 euros; French Connection, which slipped 1.7 percent to 58 pence, and Inditex, down 0.9 percent to 107.10 euros.
The pound traded for $1.65 against the U.S. dollar, while the euro changed hands for $1.36.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)