Retail stocks inched up on Wall Street, missing much of the broader rally that sent the Dow Jones Industrial Average up 1 percent on the heels of improvement in the job market.
The S&P Retail Index rose 0.2 percent, or 0.97 points, to 564.76 as the Dow advanced 123.13 points to 12,904.08.
The gainers included Zale Corp., up 8 percent to $3.37; Perry Ellis International Inc., 6 percent to $17.65; Destination Maternity Corp., 5.5 percent to $16.19; Sears Holdings Corp., 4.1 percent to $54.86, and Maidenform Brands Inc., 3.6 percent to $21.61.
Investors were heartened by word that initial jobless claims fell by 13,000 last week to 348,000. Economists expected the Labor Department report to show 365,000 first-time claims. Markets were supported later in the day by optimism surrounding Greece's efforts to secure more bailout funds, which have been dragging on.
Among the key measures of European stocks, only the CAC 40 in Paris gained for the day, with the index up 0.1 percent to 3,393.25. The FTSE 100 in London declined 0.1 percent to 5,885.38, while the DAX in Frankfurt also fell 0.1 percent to 6,751.96 and the FTSE MIB in Milan dropped 0.9 percent to 16,369.66.
The markets’ losses had narrowed compared with earlier in the day. There is increasing optimism that Europe’s finance ministers will approve a Greek bailout Monday.
The European gainers included Hugo Boss, up 1.6 percent to 71.14 euros; Mulberry Group, up 1.4 percent to 19.51 pounds, and Hermes, which gained 3.4 percent to 287.30 euros. Those that fell included PPR, down 3.3 percent to 120.40 euros; Marcolin, which dropped 2.7 percent to 3.65 euros, and Asos, which closed down 1.5 percent to 18.53 pounds.
The euro for $1.31, while the pound traded at $1.57.
@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)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)