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.
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
For @versace_official’s spring ad campaign, the brand emphasized the archival prints from the spring tribute collection dedicated to the late Gianni Versace. Closing out the show were five of Gianni’s favorite models: Cindy, Naomi, Carla, Helena, and Claudia. Bowing on December 18, the new campaign is yet another tribute to supermodel-dom as the images by Steven Meisel are fronted by @iamnaomicampbell, @cturlington, @gisele and more. #wwdfashion
Four-time Oscar-nominated actress Annette Bening has been waiting 20 years to play Gloria Graham in "Film Stars Don't Die in Liverpool," which will be released on December 29. The movie about Graham – a Hollywood star known for her controversial relationship with a younger Englishman named Peter Turner – is based off a memoir Turned wrote. "She felt vulnerable to him, because she loved him, she really did love him. And anyone that we really truly are in love with, we re vulnerable to in a very deep way," said Bening. Read our full interview with the modern icon of an actress on WWD.com. #wwdeye (📷: @ninebagatelles; Styled by @cristinaehrlich)
The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
Known for her work with @victoriassecret, 25-year-old model @georgiafowler is raising her profile in Hollywood. Fowler stars in @vincecamuto’s holiday campaign, which launched in partnership with “Pitch Perfect 3.” “Almost every shoot with Vince Camuto, I’ve had to face a fear…It was definitely a challenge. I’m so grateful for it, though. I’ve always wanted to be a pop star, so that was the perfect chance,” Fowler said. Head to WWD.com to read about Fowler’s experience modeling, including at the #VSFashionShow, and her relationship with Nick Jonas. #wwdeye (📷: @jilliansollazzo)
EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)