Retail shares got back to their winning ways despite disappointing readings on consumer confidence and housing market conditions.
The S&P 500 Retailing Industry Group rose 0.4 percent to 857.77 following a small decline Monday. The major indices surpassed that performance as the Dow Jones Industrial Average and S&P 500 rose 0.5 percent to 16,535.37 and 1,878.33, respectively.
As investors waited for word on whether the Federal Reserve would further trim its bond-buying program, The Conference Board reported a small decline in its Consumer Confidence Index for April and the S&P/Case-Shiller index on housing prices showed a slight slowdown in the improvement in major-market home prices. But strong earnings results from Sprint Corp. and Merck & Co. appeared to assuage fears.
Tech and Web-related stocks regained some lost ground during the day, although Twitter Inc., up 4.6 percent to $42.62 in the day’s regular trading session, fell nearly 10 percent in after-hours trading after investors expressed disappointment with levels of growth in users and engagement reported along with first-quarter results.
Vince Holding Corp. racked up the biggest gain among U.S.-based fashion, retail and beauty issues tracked by WWD, rising 4.9 percent to $27.87, while Aérospostale Inc. shares improved 4 percent to end the day at $4.96.
Shares of Columbia Sportswear Co. were up 2.9 percent to $81.94 as trading ended Tuesday. After the close of the markets, the company said it had agreed to acquire Prana Living LLC for $190 million in cash, and also reported better-than-expected first-quarter earnings, sending shares up another 6.4 percent, to $87.19, in the first hour of after-hours trading.
Leading those with declines, Coach Inc. shares were down 9.3 percent to $45.71 after it reported a 20 percent decrease in third-quarter earnings accompanied by a 7.6 percent drop in sales. Other declines came from Burlington Stores Inc., 5.5 percent to $27.17; American Apparel Inc., 2.7 percent to 67 cents, and Stage Stores Inc., 2.4 percent to $19.45.
As in the U.S., markets in Europe closed up, led by Milan’s FTSE MIB, which gained 2.2 percent to 21,976.84. The DAX in Frankfurt rose 1.5 percent to 9,584.12 while the FTSE 100 in London and CAC 40 in Paris added 1 percent and 0.8 percent, respectively, to end the day at 6,769.91 and 4,497.68.
Yoox Group led those with gains, adding 2.4 percent to 25.69 euros, while Metro AG gained 2.2 percent to 28.60 euros and Uniliever expanded 1.6 percent to 30.90 euros.
Among the stocks that lost the most ground were Koovs, 9.9 percent to 1.62 pounds; Mulberry Group, 5.2 percent to 6.76 pounds, and LVMH Moët Hennessy Louis Vuitton, 1 percent to 140.30 euros.
The euro traded at $1.38 against the U.S. dollar, while the pound fetched $1.68, and the Swiss franc equaled $1.14.
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion
Eighty degree temperatures and outdoor installations at the annual Art Basel Miami Beach called for bright, elevated beachwear. See more street style pictures on WWD.com. #theyarewearing #ABMB (📷: @lifeinreverie)
Following September’s emotional tribute to her brother Gianni, Donatella Versace wanted to bring the spring show’s deep sense of intimacy to her @versace_official pre-fall collection. Donatella found inspiration in Versace Palazzo in Milan and from Gianni’s opulent apartment. Archival patterns and new motifs were splashed on silk shirtdresses and fitted jersey frocks. See the rest of the photos on WWD.com. #wwdfashion
Demna Gvasalia continues to shake up the Paris fashion calendar — and experiment with new runway timetables for his @vetements_official brand. WWD has learned that Vetements plans to stage its next coed show for the fall 2018 season on January 19 during Men’s Fashion Week in the French capital. Details about the timing and venue have not been confirmed — stay tuned on WWD.com to catch the latest. #wwdnews (📷: @giovanni_giannoni_photo)
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)