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.
“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