U.S. retail stocks broke a two-day losing streak today as Wall Street hunkered down in anticipation of the Federal Reserve Open Market Committee meeting next week. The S&P 500 Retailing Industry Group gained 0.2 percent to close the week at 914.40. The Dow Jones Industrial Average added 0.1 percent to end at 15,755.36 and S&P 500 was down a fraction to 1,775.32. Investors and economists are waiting for word on whether positive signs in the economy will lead the Fed to end or “taper” its bond-buying program, one of the few sources of public-sector stimulus. Shares of Quiksilver Inc. scored the biggest gain among fashion, beauty and retail stocks tracked by WWD. They rose 7.1 percent to $8.28 after falling back 2.7 percent in after-hours trading Thursday on an unexpected first-quarter loss. An upgrade to “buy” from “neutral” by B. Riley, citing progress in the company’s plans to rebuild profitability and focus on core brands, lifted investor confidence. Two California-based, youth-oriented specialty chains — Pacific Sunwear of California Inc. and The Wet Seal Inc. — were also among the day’s biggest winners, rising 3.5 percent to $3.25 and 2.9 percednt to $2.47, respectively. The days deepest decline came from Coldwater Creek Inc. Although the third-quarter loss reported late Thursday was smaller than the one expected by analysts, plans to close up to 10 additional stores out of its current fleet of 379 gave investors pause, and shares pulled back 5.9 percent to 80 cents. American Apparel Inc. saw its shares erode 3.7 percent to $1.05 while Sears Holdings Corp.’s shares were off 2.7 percent to $45.36. Europe’s major indices ended the week with narrow losses. London’s FTSE 100 crept down 0.1 percent to 6,440.56, while the DAX in Frankfurt was also down 0.1 percent, to 9,010.41. The CAC 40 in Paris lost 0.2 percent to 4,059.71 and the FTSE MIB in Milan was unchanged at 17,805.73. The gainers included Luxottica Group, up 2.8 percent to 36.95 euros; Compagnie Financière Richemont, 1.1 percent to 85.95 Swiss francs, and Brunello Cucinelli, 2.6 percent to 25.24 euros. Declines came from Metro, down 1.2 percent to 34.57 euros; Tod’s, 0.6 percent to 120 euros, and Carrefour, 0.6 percent to 27.13 euros. The euro traded for $1.38 against the U.S. dollar, while the pound traded for $1.64 and the Swiss franc for $1.13.
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)